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U.S. Prescription Drug Prices Post Steepest Annual Drop Since 1963
Experts said the drop reflects Medicare negotiations, generic competition and new White House deals, while out-of-pocket costs can still vary by coverage.
- President Donald Trump claimed credit for a 3.1% year-over-year decline in prescription drug prices, telling reporters at Joint Base Andrews that "prescription prices are down" as he held up a news article.
- The White House credits the drop to new agreements between the administration and drug companies, plus the launch of TrumpRX, while the 2022 Inflation Reduction Act signed by former President Joe Biden now allows Medicare to negotiate lower prescription costs.
- Cynthia Cox with KFF told Spectrum News the situation is "a little bit complicated," citing a combination of Republican and Democrat policies alongside market pressure. She also noted significant price drops for GLP-1s.
- Richard Frank of the Brookings Institution cautioned that despite the steepest decline in over 60 years, "the really important thing here is to not interpret this as if manufactured drug prices are falling."
- Experts suggest the price decline reflects an "all-of-the-above" mix of Republican and Democrat policies, market pressure, and Biden-era initiatives, indicating that sustained reductions depend on continued implementation across administrations.
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Associated Press News+17 Reposted by 17 other sources
Drug prices have declined sharply, and Trump is taking credit. The reason behind the drop is complex
President Donald Trump has been promoting new data showing U.S. prescription drug prices fell 0.8% in July and are down 3.1% from a year ago.
·New York, United States
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Trump Achieves Historic 60-Year Low in Prescription Drug Prices.
The costs of prescription drugs, non-prescription drugs, and medical equipment and supplies have declined significantly under President Donald J. Trump.PULSE POINTS WHAT HAPPENED: Prescription drug prices in the United States have recorded their largest annual decline in over 60 years. DETAIL: Last week, it was revealed that prescription drugs in the U.S. have declined by 3.9 percent since President Donald J. Trump took office. This is the large…
·Jupiter, United States
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Total News Sources61
Leaning Left16Leaning Right19Center18Last UpdatedBias Distribution36% Right
Bias Distribution
- 36% of the sources lean Right
36% Right
L 30%
C 34%
R 36%
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