Latest news with #US85
The Advertiser
12-05-2025
- Business
- The Advertiser
Trump vows to cut medicine price to match other nations
US President Donald Trump says he will sign an executive order to cut prescription drug prices to the level paid by other high-income countries, an amount he put at 30 per cent to 80 per cent less. In a post on his Truth Social platform, Trump said he would sign the executive order on Monday morning, US time, to pursue what is known as "most favoured nation" pricing or international reference pricing. The US pays the most in the world for many prescription drugs, often nearly triple that of other developed nations. Trump has said he wants to close that spread, but has not publicly specified how and did not provide details in his post. "They will rise throughout the World in order to equalise and, for the first time in many years, bring FAIRNESS TO AMERICA!" he said. "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," Trump added. Drugmakers have been expecting an order that would focus on the Medicare health insurance program, according to four drug industry lobbyists who said they had been briefed by the White House. The drugmakers expect the order to apply to a universe of drugs beyond those currently subject to negotiation under former president Joe Biden's Inflation Reduction Act. Because of that law, Medicare has negotiated prices for 10 drugs, with those prices due to be put in place in 2026. More medicines were set to be negotiated later in 2025. "Government price setting in any form is bad for American patients," Alex Schriver, a spokesperson for the top US drug company lobbying group, the Pharmaceutical Research and Manufacturers of America, said in a statement when asked about Trump's planned executive order. This is not the first time Trump has tried to tie drug prices to what other countries pay. During his first term, a court blocked a proposed international reference pricing program. That proposal five years ago was projected by his administration to save taxpayers more than $US85 billion ($A133 billion) over seven years, cutting into US annual spending of more than $US400 billion ($A624 billion) on drugs. US President Donald Trump says he will sign an executive order to cut prescription drug prices to the level paid by other high-income countries, an amount he put at 30 per cent to 80 per cent less. In a post on his Truth Social platform, Trump said he would sign the executive order on Monday morning, US time, to pursue what is known as "most favoured nation" pricing or international reference pricing. The US pays the most in the world for many prescription drugs, often nearly triple that of other developed nations. Trump has said he wants to close that spread, but has not publicly specified how and did not provide details in his post. "They will rise throughout the World in order to equalise and, for the first time in many years, bring FAIRNESS TO AMERICA!" he said. "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," Trump added. Drugmakers have been expecting an order that would focus on the Medicare health insurance program, according to four drug industry lobbyists who said they had been briefed by the White House. The drugmakers expect the order to apply to a universe of drugs beyond those currently subject to negotiation under former president Joe Biden's Inflation Reduction Act. Because of that law, Medicare has negotiated prices for 10 drugs, with those prices due to be put in place in 2026. More medicines were set to be negotiated later in 2025. "Government price setting in any form is bad for American patients," Alex Schriver, a spokesperson for the top US drug company lobbying group, the Pharmaceutical Research and Manufacturers of America, said in a statement when asked about Trump's planned executive order. This is not the first time Trump has tried to tie drug prices to what other countries pay. During his first term, a court blocked a proposed international reference pricing program. That proposal five years ago was projected by his administration to save taxpayers more than $US85 billion ($A133 billion) over seven years, cutting into US annual spending of more than $US400 billion ($A624 billion) on drugs. US President Donald Trump says he will sign an executive order to cut prescription drug prices to the level paid by other high-income countries, an amount he put at 30 per cent to 80 per cent less. In a post on his Truth Social platform, Trump said he would sign the executive order on Monday morning, US time, to pursue what is known as "most favoured nation" pricing or international reference pricing. The US pays the most in the world for many prescription drugs, often nearly triple that of other developed nations. Trump has said he wants to close that spread, but has not publicly specified how and did not provide details in his post. "They will rise throughout the World in order to equalise and, for the first time in many years, bring FAIRNESS TO AMERICA!" he said. "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," Trump added. Drugmakers have been expecting an order that would focus on the Medicare health insurance program, according to four drug industry lobbyists who said they had been briefed by the White House. The drugmakers expect the order to apply to a universe of drugs beyond those currently subject to negotiation under former president Joe Biden's Inflation Reduction Act. Because of that law, Medicare has negotiated prices for 10 drugs, with those prices due to be put in place in 2026. More medicines were set to be negotiated later in 2025. "Government price setting in any form is bad for American patients," Alex Schriver, a spokesperson for the top US drug company lobbying group, the Pharmaceutical Research and Manufacturers of America, said in a statement when asked about Trump's planned executive order. This is not the first time Trump has tried to tie drug prices to what other countries pay. During his first term, a court blocked a proposed international reference pricing program. That proposal five years ago was projected by his administration to save taxpayers more than $US85 billion ($A133 billion) over seven years, cutting into US annual spending of more than $US400 billion ($A624 billion) on drugs. US President Donald Trump says he will sign an executive order to cut prescription drug prices to the level paid by other high-income countries, an amount he put at 30 per cent to 80 per cent less. In a post on his Truth Social platform, Trump said he would sign the executive order on Monday morning, US time, to pursue what is known as "most favoured nation" pricing or international reference pricing. The US pays the most in the world for many prescription drugs, often nearly triple that of other developed nations. Trump has said he wants to close that spread, but has not publicly specified how and did not provide details in his post. "They will rise throughout the World in order to equalise and, for the first time in many years, bring FAIRNESS TO AMERICA!" he said. "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," Trump added. Drugmakers have been expecting an order that would focus on the Medicare health insurance program, according to four drug industry lobbyists who said they had been briefed by the White House. The drugmakers expect the order to apply to a universe of drugs beyond those currently subject to negotiation under former president Joe Biden's Inflation Reduction Act. Because of that law, Medicare has negotiated prices for 10 drugs, with those prices due to be put in place in 2026. More medicines were set to be negotiated later in 2025. "Government price setting in any form is bad for American patients," Alex Schriver, a spokesperson for the top US drug company lobbying group, the Pharmaceutical Research and Manufacturers of America, said in a statement when asked about Trump's planned executive order. This is not the first time Trump has tried to tie drug prices to what other countries pay. During his first term, a court blocked a proposed international reference pricing program. That proposal five years ago was projected by his administration to save taxpayers more than $US85 billion ($A133 billion) over seven years, cutting into US annual spending of more than $US400 billion ($A624 billion) on drugs.
Perth Now
11-05-2025
- Business
- Perth Now
Trump vows to cut medicine price to match other nations
US President Donald Trump says he will sign an executive order to cut prescription drug prices to the level paid by other high-income countries, an amount he put at 30 per cent to 80 per cent less. In a post on his Truth Social platform, Trump said he would sign the executive order on Monday morning, US time, to pursue what is known as "most favoured nation" pricing or international reference pricing. The US pays the most in the world for many prescription drugs, often nearly triple that of other developed nations. Trump has said he wants to close that spread, but has not publicly specified how and did not provide details in his post. "They will rise throughout the World in order to equalise and, for the first time in many years, bring FAIRNESS TO AMERICA!" he said. "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," Trump added. Drugmakers have been expecting an order that would focus on the Medicare health insurance program, according to four drug industry lobbyists who said they had been briefed by the White House. The drugmakers expect the order to apply to a universe of drugs beyond those currently subject to negotiation under former president Joe Biden's Inflation Reduction Act. Because of that law, Medicare has negotiated prices for 10 drugs, with those prices due to be put in place in 2026. More medicines were set to be negotiated later in 2025. "Government price setting in any form is bad for American patients," Alex Schriver, a spokesperson for the top US drug company lobbying group, the Pharmaceutical Research and Manufacturers of America, said in a statement when asked about Trump's planned executive order. This is not the first time Trump has tried to tie drug prices to what other countries pay. During his first term, a court blocked a proposed international reference pricing program. That proposal five years ago was projected by his administration to save taxpayers more than $US85 billion ($A133 billion) over seven years, cutting into US annual spending of more than $US400 billion ($A624 billion) on drugs.
News.com.au
30-04-2025
- Business
- News.com.au
James Packer confirms reason behind $93 million house sale
James Packer has confirmed he has offloaded the Beverly Hills mansion he purchased in 2018 to be closer to his then US-based children with ex-wife Erica Packer. The businessman-investor has sold the 12 bedroom house, once home to Hollywood stars Danny DeVito and Rhea Perlman, for $US60 million ($A93 million). The figure is $US10 million less than he paid for it in 2018 and down on the $US85 million ($A132 million) the businessman had previously listed the property for in September 2023. He later withdrew the home from the market before relisting. Speaking exclusively to the billionaire confirmed the sale on Wednesday. 'The old house was great but it didn't have a view,' he said. The sale follows his recent relocation to a palatial Bel Air mansion, which he purchased in March this year for $US110 million ($A174 million). The new home boasts 280 degree views over Los Angeles. 'The new house has an amazing view over LA,' he said. 'I'm very lucky – spoilt.' Accepting the LA real estate market had 'not been strong', the Sydney-born businessman ventured that his new property investment was a sign he was 'doubling down' in the US. Packer's new monumental 9000 sqm property in Nimes Road was once the childhood home of American fashion models Gigi and Bella Hadid, the daughters of US property developer Mohamed Hadid and his ex wife Yolanda. Hadid built the vast three-storey French-style chateau, known then as Le Belvedere, on the spectacular hilltop site in 2007 before selling it in 2010 for $US50 million and leasing it back from its new owners. The property then returned to the market in 2016 with an asking price of $US85 million. During the past five years no expense has been spared transforming the 3700 sqm building and its Versailles-style gardens into a luxurious and white contemporary edifice which more subtly acknowledges its French influence with elegant and simple design. The house purchase follows Packer's decision, made at Christmas, to lease a smaller house that backs onto US President Donald Trump's Florida home Mar-a-Lago. That decision came as the one-time casino mogul rebooted his professional association with Hollywood producer Brett Ratner. The old friends have dusted off their shelved company Ratpac and are currently working on a documentary on first lady Melania Trump for Amazon.
Sydney Morning Herald
29-04-2025
- Entertainment
- Sydney Morning Herald
Billionaire James Packer sells stunning LA mansion for $93.5 million
Billionaire James Packer has sold his grand Los Angeles mansion for $93.5 million. The 12-bedroom, 18-bathroom estate finally found a buyer after more than a year on the market, and a sold sticker went up on the online listing on Monday. The stunning home on a 0.76-hectare block was first listed by Packer in September 2023 with price hopes of $US85 million ($132 million). It sold for $US60 million. Built in 1930, the three-storey residence comes with a swimming pool and spa, landscaped grounds, wine cellar, cinema room, fitness room, cigar room, a games room with bar and billiards, an outdoor dining area with al fresco kitchen, two garages, and formal living and dining spaces ideal for entertaining. The home reportedly has a star-studded history: it was owned from the 1990s by Danny DeVito and Rhea Perlman, who sold it to developers that undertook a rebuild before selling the home to Packer. It was also for a time leased by Jennifer Lopez and Ben Affleck. Packer was said to have invested in some upgrades during his ownership. Listing agents were Santiago Arana of The Agency and Jade Mills of Coldwell Banker Realty. The sale of the Beverly Hills property was earlier reported by The Australian. The deal comes after Packer bought another home in the city.
The Age
29-04-2025
- Entertainment
- The Age
Billionaire James Packer sells stunning LA mansion for $93.5 million
Billionaire James Packer has sold his grand Los Angeles mansion for $93.5 million. The 12-bedroom, 18-bathroom estate finally found a buyer after more than a year on the market, and a sold sticker went up on the online listing on Monday. The stunning home on a 0.76-hectare block was first listed by Packer in September 2023 with price hopes of $US85 million ($132 million). It sold for $US60 million. Built in 1930, the three-storey residence comes with a swimming pool and spa, landscaped grounds, wine cellar, cinema room, fitness room, cigar room, a games room with bar and billiards, an outdoor dining area with al fresco kitchen, two garages, and formal living and dining spaces ideal for entertaining. The home reportedly has a star-studded history: it was owned from the 1990s by Danny DeVito and Rhea Perlman, who sold it to developers that undertook a rebuild before selling the home to Packer. It was also for a time leased by Jennifer Lopez and Ben Affleck. Packer was said to have invested in some upgrades during his ownership. Listing agents were Santiago Arana of The Agency and Jade Mills of Coldwell Banker Realty. The sale of the Beverly Hills property was earlier reported by The Australian. The deal comes after Packer bought another home in the city.
