President Donald Trump announced that reductions in prescription drug prices will be a key issue in the upcoming midterm elections, describing the cuts as a “shock to the system” benefiting millions of Americans. Speaking in the Oval Office alongside healthcare officials and Pfizer CEO Albert Bourla, Trump revealed that Pfizer will allow state Medicaid programs to access medications at most-favored-nation (MFN) prices — the lowest prices among developed countries.

Several drugs will see significant price drops, including Eucrisa, which treats dermatitis and will be discounted by 80 percent; Xeljanz, a rheumatoid arthritis medication, reduced by 40 percent; and Zavzpret, used for migraines, lowered by 50 percent. Trump called this the start of a broader effort to lower drug costs, hinting at more announcements soon.

Trump highlighted his administration’s success during the COVID-19 pandemic, especially in partnering with pharmaceutical companies, as proof of his leadership in healthcare innovation. He stressed that lowering drug prices remains a top priority as he seeks to return to the White House.

The MFN policy aims to tie U.S. drug prices to the lowest prices paid in other countries, ending what Trump terms “global freeloading” where America subsidizes higher costs for others. While some pharmaceutical companies have opposed such pricing models, Trump argued innovation and affordability can coexist.

He concluded by saying these changes will have a direct impact on voters’ lives and urged them to recognize the significance of this policy at the ballot box in the midterms.