Trump says drug prices 'will soon be lowered massively'

Trump announces $765M governmental loan for Kodak to produce generic drugs

President Trump says his administration’s deal with Kodak is one of the most important in the history of U.S. pharmaceuticals.

President Trump declared drug prices will be cut "massively" as he continues to battle with the pharmaceutical industry.

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"Drug prices will soon be lowered massively. Big Pharma (Drug Companies) are advertising against me like crazy because lower prices mean less profit," Trump tweeted Thursday. "When you watch a Fake Ad, just think lower drug prices!!!"

The pharmaceutical industry is pushing back after Trump signed four executive orders designed to slash drug prices last week.

TRUMP'S FOUR EXECUTIVE ORDERS TO LOWER DRUG PRICES: WHAT TO KNOW

The industry seems to take special issue with the Trump administration's “favored nations” policy that would require Medicare to purchase drugs at the same prices paid by foreign countries.

A pharmacist helps a customer. (iStock)

PhRMA, a pharmaceutical industry trade group, accused Trump of "disrupting" the fight against coronavirus.

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"Right now our industry’s sole focus is figuring out a way to beat COVID-19," a PhRMA spokesperson said in a statement. "However, we remain steadfastly opposed to policies that would allow foreign governments to set prices for medicines in the United States."

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