Watch live: Trump to announce Medicaid drug pricing plan

President Donald Trump is set to announce on Friday a new Medicaid drug pricing model that will provide most favored nation pricing to certain drugs for all 50 states. Under this "GENEROUS" model, the net price of selected drugs will be brought down to the same levels paid in other countries. The administration claims this will result in significant savings, projected at $529 billion over the next decade, but the exact content of the deals remains undisclosed, making it difficult to independently verify the savings.

The move comes amid concerns about the cost of living, especially as voters approach the midterm elections in November. Last year, Trump signed an executive order instituting a "Most Favored Nations" policy, committing the U.S. to pay the same price for medications as the nation that pays the lowest price. However, the White House has estimated that the deals with pharmaceutical companies could save $529 billion over the next 10 years.

Critics argue that the lack of transparency in the deals hinders the ability to independently verify the projected savings and calls into question the longevity of these price cuts post-Trump administration.