Trump to unveil voluntary drug-price discounts tied to foreign prices

President Trump is set to announce that about a dozen drugmakers will voluntarily lower prices on outpatient drugs, expanding the administration’s push to tie U.S. prices to cheaper foreign rates under its 'most favored nation' policy. The effort follows deals with roughly 17 pharma companies over the past year and a May 2025 executive order reviving the policy. Participating manufacturers would offer discounts to state Medicaid programs (optional participation) and may be exempt from Medicare discount pilots, as part of a broader strategy to curb healthcare costs ahead of elections, while drugmakers expand direct-to-consumer channels such as the TrumpRx portal.