March 7, 2017 / 2:02 PM / 5 months ago

Trump says he is working on plan to bring down drug prices

U.S. President Donald Trump delivers his first address to a joint session of Congress from the floor of the House of Representatives iin Washington, U.S., February 28, 2017.Jim Lo Scalzo/Pool

WASHINGTON (Reuters) - President Donald Trump said on Tuesday he is developing a plan that will encourage competition in the drug industry and bring down prices for medicines, as the House of Representatives leadership unveiled a new health care plan.

"I am working on a new system where there will be competition in the Drug Industry. Pricing for the American people will come way down!" Trump said in a Twitter post.

Reporting by Doina Chiacu

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