Trump Vowed to Slash US Drug Prices. Can He Do It?: QuickTake

Americans spend more on prescription drugs than anyone else in the world. It’s true that they take a lot of pills. But what really sets the US apart is how much drugs cost. Unlike in most other countries, their prices are established without direct government intervention. Modest changes under then-President Joe Biden reduced the expense of some medicines for senior citizens.

His successor Donald Trump has vowed to slash US drug prices and bring them in line with those in other wealthy countries. In July, he sent letters to 17 major drugmakers demanding price concessions, and since then he’s cut ...