Rep. Ro Khanna announced plans to introduce legislation to codify the president's directive aimed at lowering prescription drug costs in the country.

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

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

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 pharmaceutical industry bankrolls ostensibly independent nonprofit organizations to push industry talking points in Washington and across the nation.

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.

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.