The U.S. government said on Wednesday it will aim for "greater transparency" in Medicare drug price negotiations under President Donald Trump's administration following criticism from the pharmaceutical industry for the Biden-era law.

Early moves by the president raise questions about what direction his second-term policy on drug costs will take.

President Donald Trump’s Day One executive order rescinding Biden-era Medicare and Medicaid price innovation programs signals sweeping changes to the drug and treatment pricing agency within the Centers for Medicare and Medicaid Services and perhaps a substantive shake-up in two of the largest federal social welfare programs.

A provision about insulin in the Inflation Reduction Act is conflated with a 2022 executive order by former President Joe Biden on lowering prescription drug costs in posts online that suggest President Donald Trump has canceled the $35 insulin co-pay cap for certain Medicare programs.

President Donald Trump rescinded an executive order issued by former President Joe Biden aimed at finding new models for lowering drug costs. Trump's action didn't affect the caps on seniors' drug costs or Medicare price negotiations that Biden signed into law.

Amidst political shifts, President Trump revoked a Biden-era directive aimed at reducing prescription drug costs, raising questions about future policies. Under Biden's order, the Department of Health and Human Services (HHS) was tasked with exploring ways to cut medication expenses for Medicare and Medicaid,