“Stomp[ing] Loudly and Wield[ing] a Wet Noodle”: Analyzing the Rollout of President Trump’s Plan to Lower Pharmaceutical Drug Prices
By Katherine Scotti, Senior Associate
Senior Associate
On May 12, 2025, President Trump renewed his efforts to lower prescription drug prices for Americans via an Executive Order establishing a “most-favored nation” (MFN) pricing policy, which demands pharmaceutical companies charge the U.S. the same price they charge other developed nations – on average, about three times less.
Industry experts have identified significant legal and practical challenges that may render this MFN policy unenforceable, but those issues aside, critical errors were made in communicating the Executive Order that have led to it being far less well-received than it otherwise could have been – particularly given the broad bipartisan support for addressing sky-high drug prices. These missteps offer valuable lessons for communicating announcements that extend beyond politics.
Communications Pitfall #1: Setting Unrealistic Expectations
On May 6, the President drew headlines by teasing that an announcement “as big as it gets” was forthcoming. Then, in a post on Truth Social on May 11, President Trump announced he would be signing “one of the most consequential Executive Orders in our Country’s history,” promising that “Prescription Drug and Pharmaceutical prices will be REDUCED, almost immediately, by 30% to 80%.”
In reality, the impact of the Order remains speculative, with no concrete indication that it will lead to a decrease in pharmaceutical prices. The Administration would have benefitted from messaging that set more realistic and achievable targets for the MFN policy’s implementation so that expectations are already calibrated in the event of its failure, and some credibility could have been maintained.
Takeaway: Realistic expectation-setting, transparency, and follow-through are crucial in high stakes announcements. While there’s often value in creating interest and excitement in positive news, positioning lofty goals or expected outcomes as certainties can cause irreparable long-term damage to credibility. This played out in the corporate world with WeWork Founder Adam Neumann, who set forth a grandiose vision for the company that never came to fruition, contributing to a series of events that led to a failed initial public offering and his ousting as CEO.
Communications Pitfall #2: Vague Messaging
The Executive Order was rife with vague language, immediately giving rise to confusion and uncertainty among policymakers, industry leaders, and the general public. Analysts and experts questioned how the President would enforce the Order, and commentary about its lack of clarity featured prominently in media coverage.
A number of outlets highlighted a note from Raymond James healthcare policy analyst Chris Meekins, who argued the plan offers “words on a page, but not much substantive” and “reminds us of how in President Trump’s first term he was all bark, no bite on drug pricing.” Ameet Sarpatwari of Harvard Medical School told The New York Times that the Order “reads more like an aspirational statement than a serious attempt to initiate a policy change.”
And as Matt Herper of STAT News noted, “In rolling out his plan to lower prescription drug prices, President Trump could have walked softly and carried a big stick. As pharmaceutical investors see it, he instead stomped loudly and wielded a wet noodle.”
Takeaway: Clear and substantive messaging is fundamental to shaping media narratives and public perception about an announcement. In the corporate context, having the right messaging for a major announcement has a considerable impact on how well it is received, and by extension, how effective it is in pushing the company forward and helping it achieve its goals.
One example is Apple’s 2020 decision to replace Intel processors in Mac computers with its own chips. A computer business designing its own processors is widely considered to be very risky, but the news was well received thanks to how Apple communicated it. Apple clearly articulated how it would empower developers to “build apps that run across the entire Apple ecosystem,” while also preempting concerns about potential platform disruption and compatibility by detailing the measures it had in place to mitigate these issues. The positive reaction enabled Apple to see its vision through, with the M1 Chip launching later that year and driving a major resurgence in sales and customer satisfaction for Apple’s Mac business.
Communications Pitfall #3: Missed Media Opportunities
Lastly, the President missed an opportunity to better control the narrative by leveraging his allies in the media. While he held a press event at the Order’s signing, he did not sit for any on-the-record interviews with prominent print or broadcast outlets. Given his statement that the Order was “one of the most consequential… in our Country’s history,” one would expect the administration to take a more proactive approach to media engagement.
Takeaway: Strategically engaging with trusted media before an announcement is key to setting the tone for initial and subsequent coverage. For instance, Endeavor CEO Ari Emanuel and WWE Executive Chairman Vince McMahon pre-recorded an appearance on CNBC discussing the companies’ 2023 merger that aired right after the merger was announced, ensuring the rationale for the business combination was clearly articulated from the start in a manner that built investor enthusiasm for the deal.
Pre-arranging interviews to publish shortly after announcement can also help strengthen long-term relationships with reporters and editors, which can be leveraged down the road to maximize the impact of good news. And in the event of any negative developments, reporters will typically be more receptive to the company’s perspective and frame the news with fair consideration for the company’s side of the story.
Conclusion
Many communications best practices are universal, regardless of whether you’re the CEO of a public company or the President of the United States. In order for announcements to be well received, it is important to set realistic expectations, craft clear and consistent messaging, and take full advantage of strategic media opportunities.