Senate Democrats and the Biden administration dropped plans to set drug price caps based on the amount paid in other high-income countries, during talks years ago to push through the law that empowered Medicare to negotiate down the cost of prescription medications.

President Donald Trump on Monday delivered a blow to the private-sector middlemen who negotiate U.S. drug prices in his executive order on drug pricing, saying he would cut them out as part of a goal ...

Rather than cutting prices there, many firms would raise them abroad and perhaps pull out of some countries altogether, meaning Mr Trump’s policy would shrink their businesses while doing little to lo...