Current Events in May 2025

• President Trump plans to sign an executive order tying U.S. drug prices to those paid by other countries.

• The “Most Favored Nation” policy would mark a dramatic shift in how drug prices are set, potentially cutting costs and saving trillions.

• Pharmaceutical companies warn it could cost their industry over $1 trillion and reduce drug availability for low-income Americans.

President Trump on Sunday pledged to dramatically lower prescription drug prices by signing a new executive order that would peg the cost of medications in the U.S. to what other countries pay — a policy long championed by health advocates and criticized by the pharmaceutical industry.

“Our Country will finally be treated fairly,” Trump wrote on his social media platform, Truth Social. “Healthcare Costs will be reduced by numbers never even thought of before... the United States will save TRILLIONS OF DOLLARS.”

The executive order, expected Monday, would institute a “Most Favored Nation” policy, forcing drug manufacturers to charge the U.S. government no more than the lowest prices paid by other developed nations. Countries with single-payer systems — such as Switzerland and Japan — routinely negotiate significantly lower prices for the same drugs.

For example, the list price for Jardiance, a diabetes medication, was $611 per month in the U.S. last year, while it cost $70 in Switzerland and just $35 in Japan, according to the nonprofit health policy group KFF.

A battle with big pharma

Industry groups were quick to push back. Alex Schriver, senior vice president at the Pharmaceutical Research and Manufacturers of America (PhRMA), called the move “government price setting” and warned it would “hurt American patients” and innovation, according to a Wall Street Journal report.

Pharmaceutical executives estimate the proposed pricing model for Medicaid alone would cost the industry more than $1 trillion over 10 years and could prompt drugmakers to exit Medicaid, the government program for low-income Americans.

Despite lobbying efforts to prevent the policy, Trump signaled no intention to relent, suggesting the industry’s “campaign contributions” had lost their influence.

“Not with me, and not with the Republican Party,” he wrote. “We are going to do the right thing.”

Previous attempts, legal hurdles

Trump previously attempted to implement a similar drug pricing rule during his first administration for Medicare Part B drugs. That effort was overturned by a court on procedural grounds and later dropped by the Biden administration.

This time, Trump is pushing for a broader application, though he hasn’t clarified whether the new order would apply to Medicare, Medicaid, or all federal programs.

His announcement comes amid mounting public frustration over skyrocketing drug prices and a new wave of scrutiny as he campaigns for a return to the White House.

• The FDA has approved the first at-home cervical cancer screening device, designed to make women feel more comfortable with the process, and help them stay on top of crucial health care screenings. 

• Teal Health, the company behind the device, completed a 16-site clinical trial that found its at-home collection kit to be just as successful as in-person tests. 

• With FDA approval, the Teal Wand will be available starting in June in California, with access in more states to follow.  

The U.S. Food and Drug Administration (FDA) has officially approved the first at-home cervical cancer screening device. 

Teal Health, a women’s health company, has created the Teal Wand. The device allows women to collect a sample for cervical cancer screenings at home, instead of in their doctors’ office, and then they’re able to mail the sample to a lab for analysis. 

“As a mom and a woman, I get how easy it is to put your own health last,” Kara Egan, CEO and co-founder of Teal Health, said in a news release. 

“That’s why this FDA approval means so much; it’s not just about an innovative new product, it’s about finally giving women an option that makes sense for their lives – something that can be done quickly and comfortably at home. Because when we make care easier to get, we help women stay healthy, for themselves and for the people who rely on them every day."

Looking at the research

Prior to FDA approval, Teal conducted and completed its SELF-CERV clinical trial. The 16-site clinical trial included over 600 women of varying ages from across the country. The primary goal of the study was to determine if the Teal Wand was as effective as cervical cancer screenings traditionally done in doctors’ offices. 

The Teal Wand detected cervical precancer 96% of the time, which is equivalent to in-person doctors’ screenings. 

On top of that, the women involved in the study preferred the Teal Wand. Overall, 86% of study participants said they’d be more likely to stay up to date on their cervical cancer screenings with the Teal Wand, while 94% said they’d prefer the at-home test compared to the in-person test. 

“As a Principal Investigator in the SELF-CERV trial, I saw firsthand how receptive and excited women were to use the Teal Wand,” Dr. Christine Conageski, associate professor, OB-GYN and Director of the Complex Dysplasia Clinic at the University of Colorado, said in a news release. 

“Cervical cancer is largely preventable, yet screening rates in the U.S. continue to lag, and the FDA approval of this at-home Teal Wand self-collection device is a critical step forward. It offers an evidence-based way to expand access without compromising accuracy.” 

How it works

The Teal Wand allows women to test for HPV – human papillomavirus – the virus that causes nearly all types of cervical cancers. Teal follows the same recommended medical guidelines technology that’s used in medical offices, which allows for safety and accuracy for at-home testing.  

Once you order an at-home kit, Teal will connect you with a telehealth provider for a brief virtual consultation. The provider will go through your past screening history, as well as the process for collecting the sample at home. 

The kit comes with everything you’ll need to collect the sample, which women can do in the comfort and privacy of their homes. Then, they mail it off, and the results are analyzed following the American Society for Colposcopy and Cervical Pathology (ASCCP) defined guidelines.

Lastly, the results will be available in your secure Teal account, and a virtual follow-up is scheduled with your Teal health care provider to answer any questions and go over your results. 

“Comprehensive screening must go hand in hand with structured, reliable follow-up,” Dr. Conageski said. “That’s why Teal Health’s approach to not only advancing screening technology but also providing education and support to women through every step of their care and follow-up journey is crucial. That’s how we ensure this breakthrough truly closes the gap.”

Starting in June, kits will be available on Teal’s website, first available in California, and then rolling out to other parts of the country. 

When it comes to payment, Teal is currently working with insurance providers, as well as creating payment plans, to ensure the testing kits are accessible to as many women as possible. 

More information is available on Teal’s website here.

• President Trump has moved to fire the three Democratic members of the Consumer Product Safety Commission (CPSC), a decision likely to face legal challenges.

• The action leaves the consumer watchdog agency with only two active members, both Republicans, on its five-person panel.

• The move comes as the Supreme Court considers the limits of presidential power over independent federal agencies.

In a controversial move late Thursday, President Donald Trump ordered the dismissal of three Democratic commissioners serving on the Consumer Product Safety Commission (CPSC), raising questions about the future of independent regulatory bodies and igniting what is expected to become a major legal battle.

The commissioners — Mary Boyle, Richard L. Trumka Jr., and Alex Hoehn-Saric — each confirmed they received formal notification from the White House that their service on the CPSC was being terminated. Their dismissals come amid broader administration efforts to reshape or reduce the authority of independent federal agencies.

The CPSC oversees the safety of consumer products used every day by Americans, from toys and strollers to electronics and ATVs.

Democrats vow to fight

Trumka, whose 2023 remarks about the possible health risks of gas stoves sparked national debate, called the dismissal “unlawful” and pledged to fight it in court. He emphasized that his term does not expire until October 2028.

“I will continue protecting the American people from harm through that time,” he said in a statement. “The President would like to end this nation’s long history of independent agencies, so he’s chosen to ignore the law and pretend independence doesn’t exist. I’ll see him in court.”

Boyle and Hoehn-Saric echoed that sentiment, with Boyle vowing to continue serving in her role and Hoehn-Saric warning that the firings were “part of this Administration’s efforts to eliminate federal agencies, personnel, and policies that have made Americans safer.”

Agency left barely operational

The CPSC now consists of just two members — both Republicans, including acting chairman Peter Feldman and Douglas Dziak. Without at least three commissioners, the agency lacks a quorum, limiting its ability to issue new regulations or take enforcement actions.

According to Commissioner Trumka, the dismissals came shortly after a visit from representatives of the Department of Government Efficiency (DOGE), a Trump administration entity involved in streamlining or shutting down federal offices. DOGE officials had reportedly been detailed to the agency over objections from the Democratic commissioners.

The firings are the latest flashpoint in an ongoing legal and political debate over the president’s authority to remove officials from independent agencies — an issue that is now under review by the U.S. Supreme Court in separate cases involving the National Labor Relations Board and the Merit Systems Protection Board.

The White House did not immediately issue a public statement.

• As of May 8, the 30-year fixed-rate mortgage (FRM) averaged 6.76%, remaining unchanged from the previous week and down from 7.09% a year ago.

• The 15-year FRM dropped slightly to 5.89%, compared to 5.92% last week and 6.38% a year earlier.

• Freddie Mac Chief Economist Sam Khater noted that stable and lower mortgage rates have led to a rise in home purchase applications.

Early April bond market turmoil ended a decline in mortgage rates but that now appears to be in the rearview mirror. After a couple of declines in mortgage rates, Freddie Mac reports its Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) averaged 6.76% this week.

“Mortgage rates stayed flat this week,” said Sam Khater, Freddie Mac’s chief economist, in a statement. 

“At this time last year, the 30-year fixed-rate mortgage was 30 basis points higher and purchase applications were declining. Today, rates are lower and have remained stable for weeks, sparking continued increases in purchase applications.”

Current rates

• The 30-year FRM averaged 6.76% as of May 8, 2025, unchanged from last week. A year ago at this time, the 30-year FRM averaged 7.09%.

• The 15-year FRM averaged 5.89%, down from last week when it averaged 5.92%. A year ago at this time, the 15-year FRM averaged 6.38%.