Developments in Prescription Drug Pricing under the Second Trump Administration

Amid perennial public concern about the cost of prescription drugs, the Trump administration has undertaken a raft of efforts to push or persuade drug manufacturers to lower drug prices. These include “Most Favored Nation” proposals that would tie U.S. drug prices to the lowest cost in other countries and encouraging manufacturers to make more drugs available for sale directly to consumers at discounted prices. To date, the administration has inked two voluntary deals with pharmaceutical companies to sell drugs to the Medicaid program at most-favored nation pricing and launch new drugs in the U.S. at the same price as in other countries in exchange for a three-year reprieve from new tariffs on their products. The administration also is setting up a website, Trumprx.gov, scheduled to launch in 2026, through which it plans to connect consumers to manufacturers and other vendors enabling direct-purchase of prescription drugs.

On November 20 at 12 p.m. ET, three experts join Larry Levitt, executive vice president for health policy at KFF, for a 45-minute “Health Wonk Shop” discussion about the latest developments in prescription drug pricing and what they mean for drug manufacturers, patients and public and private health insurance programs.  Among the questions to be discussed include:

• How do the administration’s efforts to lower drug prices square with drug price negotiation in Medicare, and a provision in the One Big Beautiful Bill Act that allows drug companies to exempt more products from those negotiations?

• Are the Trump administration’s moves translating into lower drug prices for consumers? Which consumers might benefit most from these efforts? Are those prices at least as low as those paid for the same drugs in comparable countries?

• How will the availability of drugs be affected, if at all?

• What might the effects be on drug prices in other countries?

• How effective will voluntary agreements with drug companies be over time?

Moderator

Larry Levitt

Executive Vice President for Health Policy

Panelists

Juliette Cubanski, PhD

Deputy Director, Program on Medicare Policy

Stacie Dusetzina, PhD

Professor of Health Policy and Ingram Professor of Cancer Research, Vanderbilt University Medical Center

Darius Lakdawalla, PhD

Chief Scientific Officer, USC's Schaeffer Center for Health Policy & Economics, and Quintiles Chair of Pharmaceutical Development and Regulatory Innovation at the USC Mann School