Drug costs are 'absolutely' dropping and 'much more is coming,' HHS Secretary Alex Azar says

Health and Human Services Secretary Alex Azar on Friday said drug costs are “absolutely” coming down.

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“For the first time in 46 years, last year, the official measure of prescription drug pricing went down. We saved tax payers $26 billion just in the first 18 months of this administration from our generic drug approvals – we are charging ahead – we are getting drug prices down and much more is coming,” he told FOX Business’ Stuart Varney.

President Trump is expected to sign an executive order on Monday on health care price transparency. Although Azar remained silent on what the exact policy will be, he said, “The president did say recently that something big was coming in the next couple of weeks of health care and I would take him at his word.”

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Azar also said that he sent a letter to the White House Friday morning on proposed regulations to set up an international pricing index regime to decrease the price of drugs in the U.S.

President Trump last year took measures to end “foreign free riding” by other nations in a Medicare price revamp.