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NewsBreak: Trump Looks to Let Florida, Others Import Prescription Drugs

Investing.com

Investing.com – President Donald Trump tweeted on Friday the federal government is working on a plan to let Florida and other states import lower-priced prescription drugs for residents.

"Hard-working Americans don’t deserve to pay such high prices for the drugs they need," Trump said in a tweet.

The plan will be released soon by the Department of Health and Human Services, Trump's tweet said. There were few details, although Trump attacked House Democrats for not passing drug-pricing legislation, although it has passed 10 bills on the topic.

Trump has been talking for some time about a prescription drug plan to push prices lower. A key question is where the drugs would come from. Canada has said it doesn't have the supplies on hand to lower U.S. prices appreciably.

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Shares of pharmaceutical giants Merck (NYSE:MRK), Pfizer (NYSE:PFE), Eli Lilly (NYSE:LLY) and Johnson & Johnson (NYSE:JNJ) were all higher on Friday. The Dow was up 0.45%

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