Prescription drug prices see biggest drop in more than 60 years

Prescription drug prices are falling at their fastest annual rate in more than six decades, offering potential relief to Americans who have struggled with the rising cost of medications.

New data shows prescription drug prices are down 3.1% from a year ago, marking the steepest annual decline since 1963. The Trump administration has pointed to greater price transparency, its most-favored-nation drug pricing policy and new prescription discounts as factors contributing to lower costs.

Speaking with The National News Desk, Dr. Ryan Cole, head of medical and scientific affairs and senior fellow of pathology at the Independent Medical Alliance, said the complicated structure of the U.S. prescription drug market has historically contributed to higher prices for American patients.

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