Trump promises drug price cuts of up to 80% in executive order

12 May 2025

US President Donald Trump sent shivers through the pharmaceutical industry as he vowed to dramatically reduce the high drug prices that have long been a feature of the US market.

Shares in Novo Nordisk (NOV: N), AstraZeneca (LSE: AZN) and Roche (ROG: SIX) were all more than 3% lower at lunchtime Monday as European pharma was the first to bear the brunt of the reaction to President Trump’s announcement.

Posting on social media site X, he warned that Monday morning in Washington DC would see him present “one of the most consequential orders in our country’s history,” promising that US prescription drug and pharmaceutical prices would be reduced, almost immediately, by 30% to 80%.

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