US President Donald Trump has announced plans to sign an executive order slashing pharmaceutical medicine prices in the United States by 30 to 80 per cent-a move expected to significantly impact global markets, including Kenya's pharmaceutical sector.
In a statement, Trump disclosed that the order will be signed on Monday at 9am US time (4pm Kenyan time) and will compel pharmaceutical companies to sell their products in the US at the lowest global rates.
The directive is part of his broader push to implement a "most favoured nation" pricing policy.
This development could pose a challenge for Kenya, which heavily relies on pharmaceutical imports from the US, among them thousands of patients suffering from diabetes. In 2023 alone, Kenya imported approximately Ksh7.8 billion (USD 60.6 million) worth of pharmaceutical products from the US, making it the country's third-largest source after India and China.
