Pharmaceutical stocks slide as Trump vows to cut US prescription drug prices ‘by 30-80%’

President plans to use executive powers, saying US should pay same price as nation that pays the lowest price'

Donald Trump has promised to use his executive powers to cut the price of prescription drugs in the US in an attempt to bring them more in line with other countries, triggering a sharp fall in drugmakers' share prices.

The US president has said he will sign an order on Monday that will reduce prescription drug and pharmaceutical prices almost immediately" by 30% to 80%".