Drug prices have declined sharply, and Trump is taking credit. The reason behind the drop is complex
Summary
Prescription drug prices in the U.S. have decreased by 3.1% over the past year, the largest drop since 1963. President Donald Trump credits his drug pricing deals and efforts like the TrumpRx website, but experts say many factors, including policies from President Joe Biden’s administration and increased competition from generic drugs, also contributed to the price declines.Key Facts
- U.S. prescription drug prices fell 0.8% in July 2026 and 3.1% over the previous year.
- This is the biggest yearly drop in prescription drug prices since 1963.
- President Trump says his “most favored nation” drug deals and the TrumpRx website helped lower prices.
- Experts note that Biden-era laws, like the Inflation Reduction Act, let Medicare negotiate drug prices, which also helped reduce costs.
- New generic and biosimilar drugs have created competition, pushing prices down for expensive brand-name drugs.
- The official drug price index measures payments to pharmacies, not necessarily what consumers pay out of pocket.
- Healthcare researchers say it is hard to attribute the price drop to one single policy or factor.
- The Trump administration continues some of the negotiating policies started under Biden’s administration.
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