Pharmaceutical companies agreed to cut prices on 15 prescription drugs on Medicare plans, HHS

Pharmaceutical companies have agreed to cut prices of 15 prescription drugs on Medicare plans that could result in billions in savings for taxpayers and older adults, the Trump administration said late Tuesday. 

Still, the lower prices for a 30-day supply of each drug are not what Medicare recipients will pay at their pharmacy because prices will be determined by an individual’s plan and how much they spend annually on prescriptions, according to the Associated Press. 

The Medicare drug negotiation program that made them possible is mandated by law and began under the Biden administration, the wire service also reports.

“President Trump directed us to stop at nothing to lower health care costs for the American people,” said Health and Human Services Secretary Robert F. Kennedy Jr. “As we work to Make America Healthy Again, we will use every tool at our disposal to deliver affordable health care to seniors.”