Fact-check · Sep 10, 2026 · Donald Trump
“We gave you the largest drop in prescription drug prices ever recorded. And I wish the news would report it. With discounts of sixty, seventy. Eighty, and even 90% in many cases.”
MISLEADING
What the record shows
Prescription drug prices fell 3.1% year-over-year through July 2026, the steepest decline since 1963 per BLS. Medicare negotiated prices on 25 drugs (10 in 2026, 15 in 2027) range from 38-85% discounts from list prices, authorized under Biden's 2022 Inflation Reduction Act.
Sources
- Medicare announces price cuts for 15 prescription drugs, including Ozempic
- CMS Delivers Savings for Seniors on 15 Major Drugs for Cancer and Chronic Disease | CMS
- HHS Announces 15 Additional Drugs Selected for Medicare Drug Price Negotiations in Continued Effort to Lower Prescription Drug Costs for Seniors | CMS
- Key Facts About Medicare Drug Price Negotiation | KFF
- Medicare Drug Price Negotiation Program June 2023
- Lower out-of-pocket drug costs in 2024 and 2025
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