Prescription Drug Prices Fall Most In 60 Years: White House

Since then, the administration has reached voluntary pricing agreements with 17 of the world’s largest pharmaceutical manufacturers.

Those companies represent approximately 86% of the branded prescription drug market, according to the White House.

The agreements generally require participating manufacturers to provide American patients access to Most-Favored-Nation pricing on covered medicines and establish similar pricing for newly launched drugs.

The administration argues that the approach is ending a system in which American consumers effectively subsidized lower prescription prices in other wealthy countries by paying substantially higher prices at home.

The latest numbers give Trump fresh evidence to argue that one of his signature healthcare policies is beginning to deliver measurable savings for American patients, the White House said.

The Trump administration is also pointing to its TrumpRx platform as another major component of its effort to drive down prescription drug costs for American patients.

According to the White House, Americans have already saved more than $700 million on prescription medications through TrumpRx, which allows patients to access discounted cash prices negotiated with participating pharmaceutical manufacturers.

Some of the most dramatic reductions involve GLP-1 medications, which previously could carry monthly list prices exceeding $1,000.

Under the administration’s agreements, certain treatments are now available to eligible cash-paying patients at prices starting around $149, depending on the medication and dosage.

The administration has also announced substantial discounts on fertility medications, insulin, inhalers, cholesterol treatments and dozens of other prescription drugs.

For some medicines, advertised cash-price reductions range from 50% to 90% or more compared with previous list prices, the administration’s release noted.