President Trump signed the executive order shortly before 11 a.m. after a press conference in which he and top officials railed against the drug industry and painted the order as

KEY TAKEAWAYS Global pharmaceutical shares are slumping Monday after President Donald Trump said he is looking to slash the price of prescription drugs in the U.S. by as much as 80%.U.S. drug prices are nearly three times higher than those overseas,

Shares of pharmaceutical companies declined after U.S. President Donald Trump announced plans to lower U.S. prescription drug prices to match those in other countries. In a post on Truth Social, Trump said that he would sign an executive order to reduce drug prices by 30% to 80%.