• U.S. President Donald Trump speaks during an event at the Department of Health and Human Services in Washington on Thursday. Trump's administration proposed cutting what Medicare pays for many costly drugs for cancer and other conditions to match lower prices paid by European countries, whose governments more strictly control pharmaceutical costs. | BLOOMBERG
    U.S. President Donald Trump speaks during an event at the Department of Health and Human Services in Washington on Thursday. Trump's administration proposed cutting what Medicare pays for many costly drugs for cancer and other conditions to match lower prices paid by European countries, whose governments more strictly control pharmaceutical costs. | BLOOMBERG
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LONDON/WASHINGTON – A drug-pricing plan unveiled by the Trump administration has put the U.S. on a path toward policies like those in Europe, where governments use tight cost controls.

Under the proposal, announced at an event at the Department of Health and Human Services on Thursday, President Donald Trump and health secretary Alex Azar said the administration would create a reference price for high-cost medicines paid for by Medicare, based on comparable prices from other countries.

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