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

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

President Donald Trump signed a sweeping executive order Monday morning that promises to crack down on “unreasonable or discriminatory” practices by foreign countries that result in Americans paying far higher costs for prescription drugs.

Trump’s previous attempt to implement international reference pricing during his first term was blocked in court, though it was estimated to save over $85 billion over seven years by reducing the U.S.