Trumps Signs Executive Orders to Lower Drug Prices; Healthcare Stocks Fall

July 24, 2020

24 2 minutes read

Stock Markets5 hours ago (Jul 24, 2020 04:40PM ET)

Investing.com — President Donald Trump on Friday signed four executive orders aimed at lowering drug prices.

The measures, which are set to take effect Aug. 24, would allow imports of prescription medicines and tie the prices of some Medicare drugs to the lower prices paid in other countries. The measures face a long regulatory process at a time when health authorities are focused on dealing with the ongoing pandemic.

CVS Health (NYSE:CVS), Cigna (NYSE:CI), and UnitedHealth (NYSE:UNH), were all down in after-hours trade.

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