US PRESIDENT Donald Trump has in part blamed foreign governments such as Australia that "extort unreasonably low prices from US drugmakers" for the high costs of prescription drugs in the US.
In a speech last Fri the president outlined a raft of initiatives to reduce US pricing, including prioritising the matter in future trade negotiations.
Other measures include a possible requirement to disclose the cost of medicines in TV advertisements in the USA, and speeding up approvals for OTC medications.
The president said he would target "dishonest double dealing" by pharmacy benefit managers who "pocket rebates and discounts that should be passed onto consumers".
Shares in major US pharma companies such as Pfizer, Eli Lilly and J&J rose after the statement.
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