Prescription drug prices have experienced the largest drop in over 60 years.
Said by The White House, Checked Updated
- Sources
- 3 support1 context
- Said
- 1 time·
- Confidence
- 85%
Speaker Mike Johnson@SpeakerJohnsonOct 27, 2026… POSITIVE results including: ✅ The largest middle & working-class tax cut in history ✅ $1.6 trillion REDUCTION in wasteful government spending ✅ A totally secured border! ✅ Erased job killing Biden-era regulations ✅ Lowest violent crime rate in 126 years ✅ Prescription drug costs see biggest drop in 60 years ✅ Trump Accounts to jumpstart young Americans' financial futures ✅ First-ever nationwide school choice program ✅ 1 million+ private sector jobs added to the economy ✅ Reshoring of American manufacturing ...and so much more! …
Multiple sources, including BLS data reported by the Inquirer and Newser, show prescription drug prices fell 3.1% over the 12 months ending July 2026, the steepest annual decline since March 1963, which supports the claim of the largest drop in over 60 years as of late October 2026 (claim dated 2026-10-27).
What we found
Supports. BLS data reported by the Inquirer state prescription drugs fell 3.1% over the 12 months ending July, the steepest annual decline since March 1963.[2]
Supports. Newser reports prescription prices are 3.1% lower than a year ago, the sharpest annual decline in more than 60 years, citing government data.[3]
Supports. The White House release describes new data showing prescription drug prices recorded their largest annual decline in more than 60 years, the steepest since 1963.[1]
Context. Experts attribute the decline to multiple factors, including Medicare negotiation under the Inflation Reduction Act, generics, and GLP-1 discounts; the White House credits its MFN policy, which sources dispute.[2][3][4]
Context. The BLS prescription drug category tracks what pharmacies receive rather than list prices charged by drugmakers, a measurement nuance that does not reverse the record-decline finding.[2]
Sources
4 sources: 1 primary, 3 not rated
- 1President Trump Delivers Largest Prescription Drug Price Drop in ...whitehouse.gov · primary source · cited for: supports
- 2Prescription drug prices record sharpest drop in more than 60 yearsinquirer.com · not rated · cited for: supports, context
- 3Drug Prices Falling at Record Ratesnewser.com · not rated · cited for: supports, context
- 4Big Pharmacommondreams.org · not rated · cited for: context
Where this claim was made
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