Trump said that drug companies would soon announce “massive drops” in prescription drug prices in response to his administration’s plan for bringing down pharmaceutical costs.
“That’s going to be a fantastic thing,” said Trump.
Not a single drug maker has announced a significant voluntary decrease in drug prices. Drug makers have continued to raise prices during Trump’s tenure and show no signs of changing course.
Health and Human Services Secretary Alex Azar was more realistic about the prospect of voluntary price reductions. “We’re, of course, not counting on just voluntary reductions in price. It would be nice if that happens..."
Pharmaceutical stocks have soared because investors see no serious threats to their profit margins.