What is “most-favored nation” drug pricing and how does it work? (Video)

President Trump sent letters to 17 of the world's biggest prescription drugmakers last week calling on them to reduce prices on some products to much lower levels. The president wants these companies to provide the "most-favored nation" drug pricing for Medicare, Medicaid and commercial customers by the end of September. Paige Cunningham, national health reporter for the Washington Post, joined CBS News to discuss what "most-favored nation" drug pricing is. CBS News 24/7 is the premier anchored streaming news service from CBS News and Stations that is available free to everyone with access to the internet and is the destination for breaking news, live events, original reporting and storytelling, and programs from CBS News and Stations' top anchors and correspondents working locally, nationally and around the globe. It is available on more than 30 platforms across mobile, desktop and connected TVs for free, as well as CBSNews.com and Paramount+ and live in 91 countries. Subscribe to the CBS News YouTube channel: https://youtube.com/cbsnews Watch CBS News 24/7: https://cbsnews.com/live/ Download the CBS News app: https://cbsnews.com/mobile/ Follow CBS News on Instagram: https://instagram.com/cbsnews/ Like CBS News on Facebook: https://facebook.com/cbsnews Follow CBS News on X: https://twitter.com/cbsnews Subscribe to our newsletters: https://cbsnews.com/newsletters/ Try Paramount+ free: https://paramountplus.com/?ftag=PPM-05-10aeh8h For video licensing inquiries, contact: licensing@veritone.com