Biden’s favor to Trump on cheaper drug prices includes a largely forgotten law to make Medicare more powerful
President Donald Trump has been taking credit for new federal data that shows U.S. prescription drug prices fell 0.8% in July and are down 3.1% from a year ago, the steepest year-over-year drop since 1963.
Reported by 3 outlets — Fortune, Seattle Times, New York Post. See all sources ↓
President Donald Trump has been taking credit for new federal data that shows U.S. prescription drug prices fell 0.8% in July and are down 3.1% from a year ago, the steepest year-over-year drop since 1963. The plunging prices, the White House said, resulted from the Republican president’s “most favored nation” drug deals with pharmaceutical firms and the TrumpRx website, which it said are “delivering real relief to American families and putting patients first.” The real picture is more complicated, said drug pricing experts, who noted that other factors, including a law from Democratic President Joe Biden’s time in office that allowed Medicare to negotiate with pharmaceutical companies, are potentially more significant contributors to the latest consumer price index figures. Also at play, they said, are generic and biosimilar products that have come onto the market, offering competition that drives down the price of expensive brand-name and biologic drugs.
Read the full report at Fortune ↗
Why it matters
3 outlets are covering this world story — one to watch as reporting develops.
- What's the story?
- President Donald Trump has been taking credit for new federal data that shows U.S. prescription drug prices fell 0.8% in July and are down 3.1% from a year ago, the steepest year-over-year drop since 1963.
- How widely is it covered?
- 3 outlets, average source rating 5.7/10.
- When was it last updated?
- 12m ago.
How outlets are framing the same story
Here's how each outlet is covering the story — compare their headlines and timing at a glance.
- Coverage card3 outlets1CoverageScouting report
Biden’s favor to Trump on cheaper drug prices includes a largely forgotten law to make Medicare more powerful
Sources3TypeCoverageFortune
Seattle Times
New York Post