Trump: Drug companies will announce 'massive' drug price cuts in 2 weeks

President Donald Trump expects pharmaceutical companies to significantly lower drug prices over the next few weeks, according to Reuters.

President Trump made the announcement during a May 31 ceremony to sign the "right-to-try" bill into law.

"You're going to have some big news. I think we're going to have some of the big drug companies in two weeks said they're going to announce, because of what we did, they're going to announce voluntary massive drops in prices," he said, according to Reuters.

The president did not say which companies would lower prices or specify the extent of the expected price reductions. An HHS spokesperson told Reuters the agency would not elaborate on President Trump's comments "because it didn't want to get ahead of any announcements," according to the report.

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