Prescription Drug Prices Fall Most In 60 Years: White House

President Donald Trump’s effort to lower prescription drug costs has produced a major political and economic milestone, with federal inflation data showing the steepest annual decline in prescription prices in more than six decades.

The prescription-drug component of the Consumer Price Index fell 0.8 percent in July and 3.1 percent over the preceding 12 months.

That represents the largest year-over-year decline since March 1963.

The White House says prescription prices have fallen 3.9 percent since Trump returned to office, a separate measurement from the 3.1 percent annual decline. Prices have not increased during any month of 2026 and have declined in five of the last six months.

“President Donald J. Trump promised to slash prescription drug prices, and he has delivered,” the White House said.

The administration is crediting Trump’s Most-Favored-Nation pricing agreements, its TrumpRx discount platform and broader pressure on pharmaceutical manufacturers.

The figures provide Trump with measurable evidence that one of his signature healthcare promises is beginning to produce results for consumers.

Most-Favored-Nation Agreements Cover 86 Percent of Branded Market

Trump launched his current Most-Favored-Nation initiative through a May 2025 executive order intended to reduce the enormous disparity between prescription prices in the United States and those charged in other wealthy countries.

The policy seeks to give Americans access to prices comparable to the lowest rates paid in similarly developed nations.

The administration subsequently reached voluntary agreements with 17 of the world’s largest pharmaceutical manufacturers.

Those companies represent approximately 86 percent of the branded prescription-drug market, according to the White House.

The agreements vary by company and medication but generally include commitments to provide Most-Favored-Nation prices through Medicaid and direct-to-patient discount programs.

Participating manufacturers have also agreed to offer comparable international pricing for newly launched medicines.

The administration argues that Americans have subsidized lower pharmaceutical prices overseas for decades by paying substantially higher prices for identical medications.

“American patients should not pay more than other comparably developed nations for the same prescription drugs,” Trump’s executive order stated.

The White House maintains that the voluntary deals are beginning to reverse that arrangement.

It is also working with Congress to codify the agreements, which would make them more difficult for a future administration or pharmaceutical company to reverse.

TrumpRx Reports $700 Million in Savings

Trump launched TrumpRx.gov in February as the consumer-facing component of his drug-pricing strategy.

The website does not operate as a pharmacy and does not directly sell or distribute medication.

Instead, it allows patients to compare prices and connects them with discounts, manufacturer programs and direct-purchase options.

Depending on the manufacturer, patients can receive downloadable coupons or access a company’s existing purchasing platform.

The White House says TrumpRx has already generated more than $700 million in savings for millions of American patients.

The platform initially featured 40 high-cost branded medications. It has since expanded to include approximately 80 presidential drug deals and price comparisons for more than 600 generic medicines.

“For years, politicians from both parties have promised to bring down prescription drug prices and make health care more affordable, but they all failed,” Trump said when launching the platform.

“It’s the biggest thing to happen in health care, I think, in many, many decades,” the president added.

TrumpRx lists discounts reaching 90 percent or more on certain medicines, although eligibility, dosage and purchasing conditions vary.

Some patients may find that their insurance coverage or pharmacy benefit provides a lower price. The platform encourages consumers to compare its cash prices with their insurance copay before making a purchase.

Major Reductions for Weight-Loss Drugs

Some of the most significant discounts involve GLP-1 medications used to treat diabetes and obesity.

Ozempic previously carried a monthly list price of approximately $1,028. TrumpRx currently advertises prices starting around $199, depending on dosage and purchasing arrangements.

Injectable Wegovy previously carried a list price of approximately $1,349 per month. It is also available through presidential pricing agreements starting around $199.

The Wegovy pill is advertised at prices beginning at $149, an 89 percent reduction from its previous list price.

Zepbound, previously listed at approximately $1,088, is available starting around $299.

Other discounts include insulin, inhalers, cholesterol treatments and fertility medications.

Cetrotide, a fertility medicine previously priced around $316, is advertised for $22.50. Certain insulin products previously carrying prices above $400 are listed for approximately $35.

The administration says fertility-drug discounts could save patients more than $2,000 during a treatment cycle.

These figures involve advertised cash prices and do not necessarily represent what every patient previously paid. Insured patients often paid substantially less than the full list price.

The discounts can nevertheless offer major savings to uninsured patients, people with high deductibles and consumers whose insurance does not cover a particular medicine.

More Than Trump’s Policies Behind Decline

The Trump administration’s agreements appear to have contributed to lower prices, especially for cash-paying patients purchasing GLP-1 drugs and other branded medicines.

But healthcare analysts say several factors are responsible for the broader decline measured by the Consumer Price Index.

More generic drugs have entered the market, creating competition with expensive branded products.

Discounted GLP-1 medications have also received greater weight in the inflation calculation as their use has expanded.

In addition, negotiated Medicare prices for 10 expensive medicines took effect in January. Those negotiations were originally authorized under the Inflation Reduction Act signed by former President Joe Biden.

Some prices in the Medicare program were reduced by as much as 79 percent from their list prices.

That means the unprecedented annual decline cannot be attributed exclusively to TrumpRx or the Most-Favored-Nation agreements.

The Trump initiatives are still an important part of the current pricing environment, particularly because the administration has expanded the number of manufacturers and medicines participating in direct-to-consumer discounts.

The 3.1 percent annual reduction also applies to prescription prices as measured in the Consumer Price Index, not every healthcare expense faced by American families.

Hospital service prices increased 5.2 percent over the same period, while physicians’ services rose 2.4 percent.

Overall healthcare costs therefore remain a challenge even as prescription prices decline.

Trump Delivers on Major Campaign Promise

Trump repeatedly argued during the 2024 campaign that Americans should never pay more than foreign patients for the same medicine.

His second administration has now secured agreements covering most of the branded-drug market, launched a public price-comparison platform and overseen the sharpest annual prescription-price decline since 1963.

The White House is also pointing to more than $10 billion in pharmaceutical savings secured by the Department of Veterans Affairs during the current fiscal year.

Hundreds of billions in additional long-term savings are projected if the full Most-Favored-Nation framework remains in place.

The precise contribution of each policy will continue to be debated.

The result itself is considerably clearer: prescription drug prices fell 0.8 percent in July, declined 3.1 percent over the year and are down 3.9 percent since Trump returned to office.

For Americans who have spent years watching medication prices move in only one direction, the reversal represents a significant breakthrough and an important victory for the president’s healthcare agenda.