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.”
It wasn’t immediately clear which companies he was referring to and what the “massive drops in prices” would look like. Pharmaceutical stocks didn’t move on the statement.
Investors sighed relief when the Trump administration’s plan didn’t appear as damaging as they feared, sending shares higher.
