Senate Democrats and the Biden administration dropped plans to set drug price caps based on the amount paid in other high-income countries, during talks years ago to push through the law that empowered Medicare to negotiate down the cost of prescription medications.

Trump signed an executive order that he claims will force Big Pharma to lower prescription drug prices paid by Americans to match the prices paid in other countries.

Executives warn that the combined effect would be to snarl supply chains, raise treatment costs and slow the development of new medicines.