Trump’s 300% to 700% drug price claim: what is done and what is pending

President Trump posted on Truth Social on October 19, 2026, Eastern time, that under his Most Favored Nation agreements on drug prices, Americans went from paying “the HIGHEST Drug Prices anywhere in the World” to paying “the LOWEST Drug Prices,” with price differences he put at 300 to 700%. That is his statement, not a verified finding. The White House fact sheet lists selected TrumpRx prices and summarizes the deals, and Time reports the full deal terms are not publicly available. Parts of the program are running now, but the post does not name a drug, a company or the price it compares, and several pieces still depend on company follow-through, agency steps, Congress or a court.

What the President said

The central sentence of the post reads: “Under my Most Favored Nation Agreements on Drug Prices, we went from paying the HIGHEST Drug Prices anywhere in the World, to paying the LOWEST Drug Prices, with Price Differences of 300, 400, 500, 600, or even 700%.” You can read the full post here: the President’s Truth Social post.

In a May 18, 2026 White House event, the President used different figures for the same idea. He said the program had “slashed the price of dozens of commonly used prescription drugs by differences of 400, 500, and even 600 percent.” The full transcript is at the May 18, 2026 remarks transcript.

What has been carried out so far

The program started with a 2025 executive order and letters to drugmakers. The December 19, 2025 fact sheet sets out the early steps, and Time and Spectrum News report the later deals.

The coverage figures differ by source. At the September 2026 event, Dr. Mehmet Oz said the 26 companies represent “90 percent of all the drugs.” Spectrum News reports that a White House fact sheet puts the deals at 89% of the branded drug market. Time reports that the administration says the deals cover 90% of the drugs used by Americans. The two figures use different bases.

Which prices the White House has listed

The December 19, 2025 fact sheet lists these prices for patients who buy directly through TrumpRx, and says each price will be reduced. These are the figures as that fact sheet shows them. Check TrumpRx.gov for today’s price.

The listed difference is the subtraction of the two fact sheet figures. The fact sheet also says Sanofi will list its insulin products at TrumpRx at $35 per month’s supply.

Is Ozempic on the list?

Ozempic is not on the December 19, 2025 fact sheet list. Spectrum News reports that Novo Nordisk was among the large companies that signed up in 2025. On May 18, 2026, Deputy CMS Administrator Christopher Klomp said an American family taking a GLP-1 medication would save about $1,800 this year compared with four months earlier, before TrumpRx.gov. He did not name a drug. Before you assume a cut, check TrumpRx.gov or the pharmacy for the current Ozempic cash price.

What the Medicaid part covers

The fact sheet says every State Medicaid program can access most-favored-nation prices on products made by the nine companies. At the September 18, 2026 event, the President said all 50 states, the District of Columbia and Puerto Rico had joined, and that the program covers “nearly 70 million Americans.” He said the Council of Economic Advisers estimates Medicaid would save over $64 billion. An official at the event said the reductions “will result each year in $5.2 billion of savings,” which adds up to that $64 billion estimate.

Time reports that the deal terms are not public, and neither are the prices Medicaid pays. As Time puts it, “it’s hard to know even how much the deal will save to Medicaid programs.” A research letter in JAMA, described by Time, estimated $8.6 billion a year in Medicaid savings from the 17 companies that had already agreed to deals. One of its authors, Dr. Thomas Hwang, told Time that “Long-term savings are likely illusory.”

Will this lower what you pay at the pharmacy?

Time reports that “For most people, this announcement won’t change costs, experts say.” The reason, Time says, is that the deal applies to Medicaid, and most Medicaid users already don’t pay very much for drugs. Time also reports New York Times reporting that found U.S. consumers still pay much higher prices for drugs on TrumpRx than consumers in other countries pay. Time adds that some companies have said in earnings reports that Medicaid deals mean they will not have to lower Medicare prices.

The May 2026 remarks say TrumpRx is adding “over 600 affordable generics to the website.” Compare the generic price with the brand price before you choose; see generic vs brand name drugs.

Did Trump promise prices would fall quickly?

Yes. A Truth Social post on May 11, 2025, said: “Prescription drug and pharmaceutical prices will be reduced, almost immediately, by 30% to 80%.” The executive order released May 12, 2025 set a 30-day step to set price targets, then an unspecified period to test progress. If progress was not significant, the order directed a rulemaking plan, and PBS reports that such a process could take months or even years. PBS NewsHour, republishing PolitiFact, rated the claim that prices would fall “almost immediately” as Mostly False. Read the PBS fact check of the May 2025 claim.

The same report quotes Andrew Mulcahy of the Rand Corp. saying a 30 to 80 percent cut is plausible, adding, “Of course, the devil’s in the policy design and implementation details.” He also said of the word “almost”: “That ‘almost’ in ‘almost immediately’ is doing a lot of work.”

What still depends on Congress, courts or agencies

• Congress. PBS reports that experts said lower prices for all U.S. consumers, not only people with federal coverage such as Medicare, would likely need a new law. Time reports that letting Medicare negotiate directly with drugmakers would require an act of Congress.
• Courts. PBS reports the order could face court challenges, and that Trump’s first-term effort to lower prices for certain Medicare drugs was blocked by the courts on procedural grounds.
• Agencies. PBS reports the order directs the Health and Human Services secretary to propose a rulemaking plan if progress is not significant.
• Drugmakers. Peter Maybarduk of Public Citizen said: “There still is no evidence that any pharma company has followed through on prior commitments to the Trump administration to launch new drugs at MFN-price points.” Spectrum News reports that Public Citizen plans to file a Freedom of Information request for details of the newest deals. Time reports that the deal terms are not publicly available.

Has the economy improved under Trump?

The post is about drug prices, not the wider economy. On the wider economy, the President said at the May 18, 2026 event: “We had the greatest economy ever. We still do.” That is his statement. On drug prices, U.S. Labor Department data reported by Spectrum News showed prescription drug prices fell 0.8% in July 2026 and were down 3.1% from a year earlier. Spectrum reports that the President took credit for that figure, while drug pricing experts credit several factors, including a Biden-era law that let Medicare negotiate with drugmakers and market competition.

Before you check a drug price

1. Write down each prescription, its strength, and whether you pay through insurance or cash.
2. Check TrumpRx.gov for the cash price of each one. Dr. Oz described it at the September 2026 event as a government site designed to show the right price for those drugs.
3. Ask the pharmacist to price each drug both through your insurance and as a cash purchase, and ask whether a generic is available.
4. Bring your full list of medicines, including over-the-counter products, and read about four types of drug interactions before you change anything.
5. Note the date and the price you saw. Prices change, and the figures above come from a December 19, 2025 fact sheet.
6. Do not stop, switch or change a medicine because of a listed price. Talk to your prescriber or pharmacist first.

By the Clear Health Evidence Team