May 11 (UPI) — President Donald Trump is scheduled to speak Friday afternoon about an initiative to lower pharmaceutical drug prices.
The event was set for 2 p.m. EDT in the White House Rose Garden.
In February, the White House released a white paper proposing policies to lower high prescription drug prices, an idea Trump had campaigned on.
The administration has said while it wants to lower costs for consumers, it also wants to foster innovation in pharmaceutical companies.
Trump has said reducing the cost of prescription drugs, by allowing drug companies to introduce cheaper versions of medications already on the market, would have the side benefit of reducing the cost of health insurance without intensive government regulations.