WASHINGTON, May 12 – Sen. Bernie Sanders (I-Vt.), Ranking Member of the Senate Committee on Health, Education, Labor, and Pensions (HELP), today released the following statement regarding President Trump’s executive order from this morning, which claims it will slash drug costs by tying the prices of some medicine in the U.S. to the significantly lower ones abroad:

I agree with President Trump: It is an outrage that the American people pay, by far, the highest prices in the world for prescription drugs. It is beyond unacceptable that we pay, in some cases, ten times more for the same exact prescription drugs than people in other major countries. But let’s be clear: The problem is not that the price of prescription drugs is too low in Europe and Canada. The problem is that the extraordinarily greedy pharmaceutical industry made over $100 billion in profits last year by ripping off the American people.

Further, as Trump well knows, his executive order will be thrown out by the courts. If Trump is serious about making real change rather than just issuing a press release, he will support legislation I will soon be introducing to make sure we pay no more for prescription drugs than people in other major countries. If Republicans and Democrats come together on this legislation, we can get it passed in a few weeks.