In a statement Thursday at the headquarters of the Department of Health and Human Services (HHS), President Trump outlined several new initiatives designed to reduce drug prices. He maintained the programs would build upon efforts by the FDA to review applications for generic drugs, which he said resulted in the approval of more than 1,000 generics last year at a savings of almost $9 billion to U.S. consumers, and the impact to patients of S. 2553, Know the Lowest Price Act, and S. 2554, Patient Right to Know Drug Price Act, signed into law earlier this month to end pharmacy gag clauses.