The president said nine more pharmaceutical companies would sell their drugs to state Medicaid programs at discounts under his so-called “most favored nation” pricing system.
Watch the president’s remarks in the player above.
Trump spoke while seated in the Oval Office, flanked by aides and business executives to highlight his program to have the stick prices for prescription drugs match or be lower than what is charged overseas.
The nine companies are Alcon, Astellas Pharma, BeOne Medicines, BridgeBio, CSL, Kyowa Kirin, Sun Pharma, Teva Pharmaceuticals, and UCB.
Trump has tried to use his efforts to have initial prices for prescription drugs before insurance-related discounts to tell voters worried about inflation that he is tackling affordability issues.
It’s unclear how much in savings will actually materialize for consumers as insurance already pays at a discount, although the administration has claimed more than $500 billion in savings over a decade.
