Trump plan for drug prices won’t include direct negotiations

WASHINGTON (AP) — President Donald Trump is set to unveil his long-awaited plan for reducing drug prices.

The strategy will be outlined in a speech Friday. It comes after more than a year of promises to tackle pharmacy costs that are squeezing millions of Americans.

The administration is not expected to act on a key Trump campaign pledge to use the massive buying power of the federal government’s Medicare program to directly negotiate lower drug prices for seniors.

Instead, administration officials are previewing a raft of old and new ideas to increase competition and improve transparency in the notoriously complex drug pricing system with the ultimate aim of wringing more savings for consumers.