Trump Says US to See Biggest Prescription Drug Price Reduction in History

Donald Trump has announced sweeping agreements with major pharmaceutical companies aimed at lowering prescription drug prices in the United States, describing the move as the biggest cut in medicine costs in US history.

Speaking at the White House, Trump said one of the leading firms, Regeneron Pharmaceuticals, had agreed to provide medicines at “most-favoured-nation” prices, meaning American consumers would receive drugs at prices comparable to the lowest available globally.

According to the President, 17 of the world’s largest pharmaceutical companies, representing around 80 per cent of the branded drug market, have now agreed to sell medicines to American patients at the lowest prices offered anywhere in the world.

Trump said Americans had long been paying disproportionately high prices for prescription medicines compared to consumers in other countries.

The White House stated that the agreements now cover nearly 86 per cent of the branded pharmaceutical market, with further negotiations continuing with other companies.

The announcement is being viewed as a major policy push to reduce healthcare costs and increase affordability of medicines for US patients.