President Trump is reportedly getting ready to make an announcement that would bring down prescription drug prices “really, really substantially.”
Trump told reporters Tuesday he would make the announcement next week, reported Bloomberg. The president, who was set to have dinner with business leaders at Trump National in Bedminster, N.J., spoke just hours after Health and Human Services Secretary Alex Azar announced that the administration is giving private insurers greater ability to negotiate drug prices in the Medicare Advantage program.
[Related: Amgen freezes drug prices, credits Trump]
Prices for prescription drugs made by Pfizer, Novartis, and other pharmaceutical companies were “too high,” Trump said, per Bloomberg. He added, “We are announcing something next week which is going to get them down really, really substantially.”
The prescription drugs affected by the earlier announcement are those covered under Medicare Part B, and are administered in an office.
