President Donald Trump intensified pressure on major pharmaceutical companies, demanding they slash U.S. drug prices to align with those of wealthy nations within 60 days. Letters sent to 17 leading companies outline expectations including offering Medicaid and Medicare drugs at prices no higher than the lowest in OECD countries with at least 60% of U.S. GDP. The directive further calls for expanded direct-to-consumer sales and repatriation of profits earned from higher foreign prices. Industry groups and pharma executives have expressed concerns about the policy’s impact on innovation and negotiations remain ongoing. These developments are stirring market volatility in the biotech sector as firms assess pricing and regulatory risks.