Trump says drugmakers going to announce massive voluntary price cuts

Leah Millis | Reuters

President Donald Trump speaks prior to signing the “Right to Try Act,” which gives terminally ill patients the right to use experimental medications not yet been approved by the Food and Drug Administration (FDA), at the White House in Washington, U.S., May 30, 2018.

President Donald Trump said Wednesday drugmakers are going to announce “voluntary massive” price cuts in two weeks.

While signing “right-to-try” legislation into law, Trump touted his administration’s moves to lower prescription drug prices. He and Health and Human Services Secretary Alex Azar unveiled a blueprint earlier this month.

Trump said Wednesday that Azar told him Tuesday they’re already seeing “tremendous improvement.” He didn’t specify what he was referring to, though.

“I think we’re going to have some of the big drug companies in in two weeks, and they’re going to announce because of what we did, they’re going to announce voluntary massive drops in prices,” Trump said. “So that’s great. That’s going to be a fantastic thing.”