India, May 12 -- President Donald Trump on Sunday announced that he will be signing an executive order to reduce prescription drug prices in the US. The 78-year-old mentioned his 'Most Favored Nation' (MFN) drug pricing policy, saying it will bring down prices by 30% to 80%.

"I will be instituting a MOST FAVORED NATION'S POLICY whereby the United States will pay the same price as the Nation that pays the lowest price anywhere in the World. Our Country will finally be treated fairly, and our citizens Healthcare Costs will be reduced by numbers never even thought of before," Trump posted on Truth Social.

President Trump's MFN drug pricing policy seeks to lower prescription drug costs in the United States by tying Medicare payments for cer...