Trump Signs Executive Order to Cut Drug Prices…Benefits for Korean biosimilars?

[Kim Saemi, Edaily Reporter] U.S. President Donald Trump on April 15 signed an executive order aimed at lowering the cost of high-priced prescription drugs, a move that could benefit Korean biosimilar manufacturers.

U.S. President Donald Trump (Source = AP Yonhapnews)

According to the WHITE HOUSE on April 15, Trump announced the executive order titled “Lowering Drug Prices by Once Again Putting Americans First.” The order seeks to improve access to affordable medications for American patients by encouraging the development and faster approval of generics and biosimilars.

The order also directs a 90-day review of drug supply chain intermediaries, including pharmacy benefit managers, or PBMs. These entities will be required to disclose fees and cooperate in creating government-led policy reforms. Public hearings and official reports aimed at curbing anti-competitive behavior by drugmakers are also part of the plan.

The Trump administration’s move signals a strong push to reform drug pricing. The order explicitly states that it “increases the availability of generics and biosimilars,” leading to expectations that Korean biosimilar makers like Celltrion and Samsung Bioepis could gain an advantage in the U.S. market.

“With policies focused on accelerating biosimilar approvals and fostering competition, biosimilar manufacturers could see expanded market opportunities,” one industry official said. “As pressure on PBMs increases, we expect more biosimilars to be included in formularies, giving patients more treatment choices and supporting the government’s pricing goals.”