Trump teases announcement of big drops in drug prices

Trump teases announcement of big drops in drug prices

- President Trump said Wednesday that in two weeks some big companies would announce voluntary massive drops in prices.

- Trump said during a bill signing Wednesday that we are “seeing a tremendous improvement” in the cost of prescription drugs since he announced his blueprint to clamp down on high drug prices last month.

- But Trump did not identify which companies would reduce prices or by how much.

- The vast majority of items in the Trump administration's plan focus on administrative actions to try to reduce drug prices paid under Medicare Part D and Part B. Medicare Part D is the program’s prescription drug plan, while Part B reimburses doctors and healthcare facilities for treatments administered in a doctor’s office, such as a vaccines or chemotherapy.

- [Related: Senate to take up Trump's call to lower drug prices in June]

more