President Donald Trump announced an expansion of his Most Favored Nation drug pricing initiative on Monday afternoon from the White House.
The president shared that nine new pharmaceutical companies have committed to deliver their lowest drug prices for Americans. According to a 2024 report, prescription drug prices are on average nearly three times higher than in foreign countries.
With today's announcement, we now have 26 companies representing 90% of the domestic pharmaceutical market," Trump said. "These agreements are projected to save Americans more than $600 billion."
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