President Donald Trump said his administration will make an announcement next week about dropping prescription drug prices "really substantially," according to Reuters.
The president didn't offer any specifics about the action his administration would take in comments to reporters at the beginning of a dinner with business leaders at his golf club in New Jersey.
At the dinner, President Trump said the prices of prescription drugs made by Pfizer, Novartis and others were "too high." He added that "we are announcing something next week which is going to get them down really substantially," according to Bloomberg.
President Trump has made lowering costs of prescription drugs a main focus of his administration. In May, he released a "blueprint"to combat rising drug prices, with several proposals seeking to increase competition, improve negotiation and create incentives to lower prescription drugs and out-of-pocket costs.