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TrumpRx Delivers HISTORIC Drop In Prescription Drug Prices Drug prices just posted their biggest annual decline in more than 60 years Big League Politics Aug 14, 2026 Prescription drug prices are falling at a pace not seen in more than six decades, giving President Donald Trump and his administration a major economic victory as the White House pushes its drug pricing agenda. New Bureau of Labor Statistics data shows prescription drug prices fell 3.1 percent over the 12 months ending in July, marking the largest year over year decline since March 1963. The broader medicinal drug category dropped 2.7 percent, reportedly the largest annual decline on record. The Trump White House says the numbers are evidence that its aggressive effort to drive down the cost of prescription drugs is beginning to deliver results for American consumers. “No president in modern history has been able to drastically reduce prescription drug prices across the board except for President Trump,” White House spokesman Kush Desai said. “This is a direct result of the President’s willingness to push the envelope with bold policies that actually put Americans and America First.” A major piece of the administration’s strategy has been TrumpRx, which was launched earlier this year to provide Americans access to discounted prescription drugs. The administration has placed particular emphasis on GLP-1 weight loss medications, some of which have previously carried prices exceeding $1,000 per month. Through TrumpRx, certain GLP-1 drugs are available for starting prices as low as $150. Meanwhile, under a separate Medicare pilot program launched in July, Novo Nordisk and Eli Lilly agreed to charge the federal government $245 per month for Wegovy, Zepbound and Foundayo. Trump began negotiating with pharmaceutical companies last year, with the broad outlines of several agreements announced in November. “In a matter of months, we got up and running these discounts in a way that they were meaningful for American patients,” a White House official said. And July’s decline was not an isolated development. Renaissance Macro reported that prescription drug prices have fallen at a seasonally adjusted annual rate of 6.6 percent during the past six months, describing it as the sharpest six month decline on record. “Just what the doctor ordered!” the investment research firm wrote in response to the numbers. Debate Over What Is Driving The Decline The Trump administration is claiming credit for the historic numbers, but some health policy experts argue that other factors are also contributing. The first Medicare negotiated drug prices established under former President Joe Biden’s Inflation Reduction Act took effect at the beginning of 2026 and currently cover 10 widely used medications. Richard Frank, a senior fellow at the Brookings Institution and professor emeritus of health economics at Harvard University, argued that those provisions are more likely to be responsible for much of the decline. Vanderbilt University health policy professor Stacie Dusetzina similarly pointed to Medicare negotiations, arguing that the drugs affected are widely used enough to influence the federal prescription drug index. The Trump administration disputes that assessment, noting that the Biden era program took years to take effect while Trump has moved rapidly to negotiate new agreements with pharmaceutical companies. Another possible factor is the growing availability of cheaper generic medications. As major brand name drugs lose patent protection, lower cost generic alternatives can eventually replace them in the Bureau of Labor Statistics pricing sample, putting additional downward pressure on the index. The federal prescription drug index also measures more than pharmaceutical companies’ advertised prices. It tracks what pharmacies actually receive from consumers, insurers and Medicare Part D, meaning changes in negotiated rates, generic usage and out of pocket costs can all affect the numbers. Whatever combination of policies and market forces is responsible, one fact is clear: Prescription drug prices are falling at a rate Americans have not seen since the early 1960s, and the Trump White House is pointing to the historic decline as evidence that its drug pricing offensive is producing results.