Drug Prices Are Prime Target In Biden's Competition Order

By Adam Lidgett (July 9, 2021, 7:59 PM EDT) -- President Joe Biden's executive order Friday to invigorate competition across the American economy focused intensely on prescription drug costs, including a demand that top health officials rapidly devise a plan to cut spending on overpriced drugs.

The order called on more than a dozen federal agencies to pursue more than 70 initiatives, but many of its splashiest initiatives involved drug prices, a perennial pocketbook concern for voters. In a Friday signing ceremony at the White House, Biden devoted a sizable portion of his remarks to the order's drug pricing provisions.

"Americans pay two-and-a-half times more for prescription drugs than in any...

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