Watch live: Trump to announce Medicaid drug pricing plan
President Trump will deliver remarks Friday on another step in his administration’s efforts to lower prescription drug costs. Trump is expected to announce that Medicaid programs in all 50 states will have access to “most favored nation” pricing for certain drugs. He will be joined by several governors in the Oval Office. The announcement comes...
The US administration is planning to implement most-favored-nation pricing for certain drugs in Medicaid programs across all 50 states, as reported by Semafor. President Trump is set to meet with governors of South Dakota, Mississippi, and Arkansas to discuss efforts to reduce drug prices. The current US price for prescription drugs is significantly higher than in other developed nations, often nearly triple the cost.
In an effort to narrow this gap, Trump's administration has signed agreements with 17 major global drugmakers, including Pfizer, Eli Lilly, and Novo Nordisk, to offer lower prices, comparable to those paid in other countries - known as most-favored-nation pricing. Medicaid, a joint federal and state-funded health program for low-income individuals, already receives substantial discounts on drug prices, as mandated by existing law.
Despite these discounts, many Medicaid beneficiaries have minimal out-of-pocket costs for prescriptions. Recently, the administration announced additional drug pricing deals with international pharmaceutical companies and smaller biotechnology firms.
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