Sen. Peter Welch (D-Vt.) said Wednesday he would support President Donald Trump's "most favored nation" drug pricing proposal, marking a rare moment of bipartisan alignment on prescription drug costs.
Speaking at the Axios Future of Health summit, Welch said he would "not only vote for it," but would "work actively and aggressively to make it happen."
Trump's most favored nation, or MFN, policy aims to bring U.S. prescription drug prices closer to what other developed nations pay for the same medicines.
Welch added that he wants the administration to move beyond public statements and formally introduce legislation. "Do it, not just talk about it," he said.
Drug Pricing Debate Intensifies
The comments come as drug affordability remains a major political issue ahead of the midterm elections. According to KFF health researchers, more voters trust Democrats than Republicans on prescription drug costs, though a sizable share of Americans say they trust neither party.
Welch and Sen. Josh Hawley (R-Mo) are already working on bipartisan legislation that would bar pharmaceutical companies from charging Americans more than the international average price for medicines.
The proposal could also give congressional backing to Trump's broader drug pricing framework.
White House economists recently estimated that Trump's agreements with pharmaceutical companies could generate roughly $529 billion in economic savings over the next decade. Administration officials also projected Medicaid savings of $64.3 billion over the same period under the MFN pricing framework.
Pharma Deals Face Scrutiny
The Trump administration has promoted its drug-pricing agreements as a major healthcare reform effort. However, lawmakers from both parties have raised concerns over the lack of public disclosure surrounding the agreements signed with major drugmakers.
Several pharmaceutical companies, including Pfizer (NYSE:PFE), Eli Lilly and Company (NYSE:LLY), AstraZeneca (NASDAQ:AZN), Novo Nordisk (NYSE:NVO) and Johnson & Johnson (NYSE:JNJ), have entered agreements tied to the administration's pricing initiative.
The MFN model ties U.S. drug prices to prices paid in other high-income countries. Trump has also linked the policy to tariff pressure on pharmaceutical manufacturers.
At the same time, the initiative has drawn criticism from some Democrats. Sen. Bernie Sanders (I-Vt.) and Sen. Elizabeth Warren (D-Mass.) recently questioned Trump's claims that his administration had lowered drug prices by as much as 400% to 600%.
Broader Healthcare Push
The administration has recently expanded its healthcare policy efforts beyond drug pricing.
Earlier this year, Trump launched TrumpRx.gov, a platform that allows consumers to compare discounted prescription drug prices and access coupons tied to participating manufacturers.
The administration has also proposed new fertility coverage rules tied to employer-sponsored health benefits as part of a broader push focused on healthcare affordability and family support.
Welch also said Democrats would push to extend Affordable Care Act tax credits that help Americans purchase healthcare coverage.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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