WASHINGTON — President Donald Trump claims drug prices fell in 2018 for the first time in nearly 50 years, but the evidence doesn’t appear to be on his side.
A recent Associated Press analysis of prices for brand-name drugs found far more increases than cuts in the first seven months of 2018. The analysis found 96 price hikes for every price cut. The number of increases had slowed somewhat and were not quite as steep as in past years.
Trump tweeted Friday that “Our policies to get cheaper generic drugs to market are working!”
Just before the November election, Trump announced a price-reduction plan that ties what Medicare pays for certain drugs to much lower prices paid in other economically advanced countries.
Congressional Democrats have also introduced legislation to tackle the issue.