Trump Unveils Major Drug Price Cuts in Bold Pre–Election Push

In a dramatic campaign moment, former President Donald Trump announced sweeping prescription drug price cuts, describing them as a “shock to the system” that would provide immediate relief to American families. Speaking from the Oval Office alongside Pfizer CEO Albert Bourla and senior health officials, Trump vowed deeper reductions in the weeks ahead—and suggested the move would shape voter sentiment ahead of the 2026 midterms.

Trump acknowledged the political timing of the announcement, telling reporters the impact would be “huge” in influencing the electorate.

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The Pfizer Deal: MFN Pricing Extended to Medicaid

The centerpiece of Trump’s policy rollout is a new agreement with Pfizer that allows state Medicaid programs to access medications at most-favored-nation (MFN) pricing—meaning rates comparable to those in other developed countries like Canada, France, or Germany. The goal: to bring U.S. drug costs more in line with international standards and eliminate what he framed as the unfair price premium Americans have long paid.

As part of the White House’s fact sheet, several name-brand medications are slated for sharp price cuts:

• Eucrisa (dermatitis treatment) — 80% reduction

• Xeljanz (for rheumatoid arthritis) — 40% reduction

• Zavzpret (migraine therapy) — 50% reduction

“These numbers are rarely seen in medicine,” Trump said, brandishing charts of the discounts. “For years, Americans have been overcharged. We’re fixing that. Real change is happening now.”

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Midterms and the Messaging Stakes

Although framed as healthcare reform, Trump’s timing suggests political calculation. Affordability—and especially drug costs—consistently ranks among the top concerns for voters, cutting across party lines. According to recent polling, nearly 70% of Americans have experienced difficulty paying for prescriptions, and one-quarter admit to skipping or halving doses to control costs.

By striking a high-profile deal in the months before an election, Trump is positioning himself as the leader willing to take on pharmaceutical industry giants—an image he hopes appeals to middle- and working-class voters.

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Back to His COVID Partnerships

Trump tied the policy announcement to his past collaboration with pharma during the COVID pandemic. “We worked hard with Albert [Bourla] and others on therapeutics, vaccines, other breakthroughs,” he said. “Now we’re doing what we should have all along—making sure drug costs don’t bury families.”

He framed it as continuing a broader effort: “We proved that companies can deliver. Now they can compete with better prices too.”

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“Shock to the System” and Future Price Reductions

Trump said the Pfizer agreement is just a first step. “Next week we’ve got another company lined up. We’ll show 1,000 percent drops in price,” he told reporters. While that dramatic figure is widely questioned—few experts believe prices can fall tenfold—it underscores his intention to drive this narrative in coming weeks.

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Pharma Response and Industry Watch

Pfizer CEO Albert Bourla praised the agreement as a balanced measure: “We must ensure patients can obtain needed medicines while maintaining our ability to invest in innovation and research,” he said.

Other drug companies are watching carefully. Many analysts predict further deals will be offered, as firms aim to avoid being painted as anti–consumer during a politically charged season.

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Skeptics Raise Concerns

Health economists caution that while Medicaid beneficiaries may see significant savings, consumers with private insurance may not benefit immediately. Some warn that the MFN model could prompt companies to shift pricing globally to offset reduced profits in the U.S., risking trade or pricing tensions abroad.

Democrats responded cautiously. Some progressives welcomed the proposal as partial progress. Others accused Trump of staging a headline-grabbing stunt. Senator Elizabeth Warren (D‑Mass.) said: “This is an election-year gambit, not real reform. Americans deserve structural change—not deals for photo ops.”

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Strategy and Electoral Significance

Trump’s drug pricing initiative dovetails with his broader populist messaging, particularly on economic fairness. Just as he campaigned on opposing unfair trade deals, he now frames Big Pharma as another powerful industry taking advantage of average Americans.

“This is a big deal,” he declared. “We’re disrupting the system. Prices will come down. Finally, we’ll pay fairly.”

By turning drug costs into a campaign centerpiece, Trump seeks to set the agenda for 2026 and reframe himself as a reformer willing to take on entrenched interests.

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What’s Next

The White House says the Medicaid cuts will begin quickly, with extensions to private insurance to follow. Healthcare advocates are pushing for transparency: when will savings show up at pharmacy counters? How fast can reductions reach non-Medicaid patients?

If these promises hold, millions might see real relief in 2025 — and the political landscape could shift. But if the execution falters, critics say the announcement may go down as grand rhetoric with little follow-through.

For now, Trump has staked significant political capital on this gambit. He positions himself as the figure who forced Big Pharma’s hand. The real test lies in whether the price cuts materialize—and whether they sway the voters whose lives depend on them.

And for many watching, the question is no longer just what the policy will be—but whether it was a historic deal… or a strategic gambit wrapped in medical reform.