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SHOT/CHASER: A Year Ago Today Trump Claimed Drug Companies Would Make ‘Massive’ Price Cuts, But Drug Prices Have Continued to Skyrocket

SHOT: One Year Ago Today: Trump Claims Drug Companies Will Announce ‘Massive’ Price Cuts Soon. “President Donald Trump on Wednesday said he expects major drug companies to slash prices on their products in two weeks, but did not provide details on which companies would do so or how such reductions would be made.” [Reuters, 5/30/18, Dan Diamond Twitter, 5/30/19]

CHASER: The Price Of Prescription Drugs Has Continued To Increase In The Year Since Trump’s Announcement. “Drugs continue to get more expensive. During the first quarter of 2019, the average list price, the price set by the manufacturer, for all brand and generic drugs increased by 2.9%. Over 500 brand name medications saw a list price increase in January, 2019…The large number of drugs that increased in price by over 9.0% is not a coincidence. As the conversation regarding drug prices has heated up over the past couple of years, manufacturers have slowly taken a pledge to keep price increases below 10% annually—but they continue to push the limit and raise prices by 9.9%.” [GoodRx, 5/2/19]