President Donald Trump took on Big Pharma Monday with an executive order that will reduce the prices for prescriptions. The

There are many problems with the plan. It ignores the fact, for instance, that generic drugs, which make up 90% of prescriptions in America by volume, cost around a third less than in other rich countries, according to the rand Corporation, a think-tank.

The pharmaceutical industry, which is well known for its well-resourced lobbying campaigns, has a lesser-known tactic for influencing policy: bankrolling ostensibly independent nonprofit organizations to push industry talking points in Washington and across the nation.

President Trump signed the executive order shortly before 11 a.m. after a press conference in which he and top officials railed against the drug industry and painted the order as

The market reaction came as Trump signed a wide-ranging executive order aimed at slashing prescription drug prices in the US.

President Donald Trump wants drugmakers to work with his federal health department to reach an agreement on a most favored nation price for their medicines.