Cigna and CVS shares fall as Trump targets ‘middlemen' in sweeping executive order against Big Pharma
1. Trump signed an executive order to reduce drug prices by up to 90%. 2. Middlemen companies like Cigna and CVS faced stock selloff post-announcement. 3. U.S. prescription drug prices are significantly higher than in other countries. 4. Failure to reduce prices may lead to tariffs or further government actions. 5. Major drug companies like Merck and Pfizer saw stock increases post-order.