Trump Announces Ambitious Plan To Slash US Prescription Drug Prices

US President Donald Trump unveiled what he described as the most significant effort in decades to lower prescription drug prices for Americans.

Trump spoke at the White House alongside senior officials and top pharmaceutical executives. He promised that US patients would soon pay no more than the lowest prices charged anywhere globally.

“You’re going to get most favoured nations pricing, meaning they’ll pay the lowest price anywhere in the world,” Trump said, emphasising the administration’s commitment to ending decades of disproportionately high costs for American patients.

The announcement included Health and Human Services Secretary Robert F Kennedy Jr and Commerce Secretary Howard Lutnick. It also featured Centres for Medicare and Medicaid Services Administrator Mehmet Oz and FDA Commissioner Marty Makary.

Leading pharmaceutical CEOs such as Sanofi’s Paul Hudson, Novartis’ Vas Narasimhan, and GSK’s Emma Walmsley were also present.

Trump criticised the current system, noting that the US makes up just 4 per cent of the world’s population. He added that the country accounts for 75 per cent of pharmaceutical profits.

“For decades, Americans have been forced to pay the highest prices in the world for prescription drugs, by far,” he said.

Drugmakers Agree to Sharp Price Cuts

Trump announced that major drugmakers had agreed to cut prices on their key medicines, aligning costs with global benchmarks. “We signed historic agreements to reduce prices by 300, 400, 500, 600 and even 700 per cent,” he said.

The President added that enforcement mechanisms would include trade measures such as tariffs if companies failed to comply. He assured that US drug prices would start declining next year and predicted rapid reductions.

Trump emphasised that savings should reach patients directly rather than insurance companies. “The money should be paid not to the insurance companies, directly to the people,” he said, highlighting the administration’s patient-focused approach.

High prescription costs have long been a contentious political issue, particularly affecting seniors and those with chronic conditions.

Trump’s ‘most favoured nations’ pricing ties US prices to international benchmarks, aiming to correct what he views as Americans subsidising lower drug costs abroad.

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