Trump is taking credit for sharply declining drug prices. The reality is more complex
New federal data that shows U.S. prescription drug prices fell 0.8% in July and are down 3.1% from a year ago, the steepest year-over-year drop since 1963.
US prescription drug prices fell 0.8% in July and are down 3.1% from a year ago, according to new federal data. This marks the steepest year-over-year drop since 1963.
President Donald Trump has taken credit for the decline, citing his administration's "most favored nation" drug deals with pharmaceutical firms and the TrumpRx website. However, experts say the reality is more complex.
According to Endpoints News, a Biden-era law allowing Medicare to negotiate with pharmaceutical companies may be a more significant contributor to the decline. Additionally, the introduction of generic and biosimilar products has increased competition, driving down prices of expensive brand-name and biologic drugs. The prescription drug price index measures how much pharmacies get paid, not directly how much consumers pay.
Brief written by urgent.news from PBS NewsHour Health, Endpoints News, MedPage Today, Fortune, Associated Press — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
