At a two-day Republican midterm convention, President Trump and Vice President Vance touted major healthcare wins — but fact-checkers say the picture is far more complicated. Vance claimed the administration "took on big pharma and lowered drug costs for all citizens," while Trump boasted of price cuts of "400, 500, and even 600%" — a claim experts say is mathematically impossible, since prices cannot fall by more than 100%.

Federal data do show that U.S. prescription drug prices fell 3.1% year-over-year — the steepest drop since 1963. But drug pricing experts say the credit is far from clear-cut. Contributing factors include Biden-era legislation allowing Medicare to negotiate drug prices, as well as the growing availability of generics and biosimilars. Importantly, these price drops reflect what pharmacies are reimbursed, not necessarily what patients pay out of pocket.

By the Numbers:

• 3.1% — year-over-year drop in U.S. prescription drug prices, the steepest since 1963
• 0.9% — month-over-month price decline in July
• 600% — Trump's claimed drug price reduction, which experts call mathematically impossible

Why it matters: As midterm elections approach, healthcare cost claims are taking center stage. Voters and patients deserve accurate information about what's actually driving drug price changes — and who deserves credit — to make informed decisions at the ballot box.