Trump signs executive order to boost U.S. drug manufacturing

CLYDE, Ohio/WASHINGTON (Reuters) - President Donald Trump on Thursday signed an executive order aimed at boosting U.S. production of medicines and medical equipment, lowering drug prices and protecting the United States against shortfalls in a future pandemic.

Trump said the order would also support advanced manufacturing processes that would benefit U.S. pharmaceutical companies.

The long-awaited measure includes a “Buy America” provision mandating federal purchases of certain medical supplies and equipment deemed essential and moves to remove regulatory hurdles to approval of new U.S. drugs, the Republican president told workers at a Whirlpool (WHR.N) washing machine factory in Clyde, Ohio.

The order had been expected for months as part of a drive by the Trump administration to pull back supply chains from China.

“As we’ve seen in this pandemic, the United States must produce essential equipment, supplies and pharmaceuticals for ourselves. We cannot rely on China and other nations across the globe, that could one day deny us products in a time of need,” Trump said. “We have to be smart.”...

U.S. companies were skeptical about the order as it evolved, warning that it could trigger potential backlash from China and other suppliers at a time when more than 1,000 people a day are dying of COVID-19 in the United States....