Drug prices have declined sharply, and Trump is taking credit. The reason behind the drop is complex

U.S. prescription drug prices declined 3.1% from a year ago, marking the steepest drop since 1963. Although President Donald Trump claims credit via 'most favored nation' deals, experts note the price reduction is complex. Contributing factors include Medicare's ability to negotiate costs through policies like the Inflation Reduction Act, and market competition fueled by generic and biosimilar drugs.