President Donald Trump on Thursday introduced TrumpRx.gov, a new government-supported website designed to help Americans obtain prescription medications at reduced prices, marking what he described as a major shift in drug pricing policy.

At a White House event announcing the rollout, Trump said U.S. consumers have historically paid far more for medications than patients abroad, calling the disparity extreme and long overdue for correction.

“Americans have long been paying the highest drug prices anywhere in the world, while other countries often paid pennies on the dollar for the exact same drugs,” Trump said. “We were essentially subsidizing the entire world by hundreds of billions of dollars every year.”

Trump emphasized that despite the country’s relatively small population, Americans shoulder a disproportionate share of global prescription drug costs.

“The United States is just 4% of the world’s population and consumes only 13% of all prescription drugs,” he said before confirming new agreements would change that dynamic.

Under newly negotiated arrangements, Trump said U.S. prices would be tied to the lowest rates paid internationally.

“Under the agreements my administration has negotiated, the United States will pay the lowest price paid by any other country,” he said. “We’re taking the lowest price anywhere in the world. That’s the price you’re going to be paying.”

Trump predicted steep reductions for many medications. “They’re going way down for the United States — by differences of as much as 300, 400, 500, even 600%,” Trump said. “In some cases, even more.”

The TrumpRx.gov platform allows consumers to search for medications, view discounted prices, and generate coupons that can be printed or stored in a mobile wallet for use at participating pharmacies. Specialty medications are routed through mail-order pharmacies that ship directly to patients. Administration officials said purchases made through the program typically will not apply toward insurance deductibles.

Trump announced the initiative alongside Centers for Medicare & Medicaid Services Administrator Dr. Mehmet Oz and Joe Gebbia, Airbnb’s co-founder, who is serving as National Design Studio Director and advising the administration on digital design and user experience.

The website follows agreements reached between the Trump administration and 16 major pharmaceutical companies under so-called “most-favored-nation” pricing arrangements.

“All of these discounts and more will be available directly to consumers starting today at TrumpRx.gov,” Trump said, adding that 16 of the 17 largest pharmaceutical companies have already agreed to participate, with one remaining firm expected to join.

As part of the deal, participating drugmakers received exemptions from certain U.S. tariffs in exchange for lowering prices for the Medicaid program and extending those reduced prices to consumers paying out of pocket through TrumpRx.

Companies involved include Eli Lilly and Novo Nordisk, which agreed to lower prices on widely used GLP-1 weight-loss medications. The administration said the agreements are projected to bring average monthly drug costs down to between $149 and $350.

Officials also pointed to price reductions across a broad range of treatments, including inhalers, HIV medications, diabetes drugs, and fertility treatments.

Trump highlighted several examples during his remarks:

“Novo Nordisk will be slashing the price of Wegovy from more than $1,300 to $199,” Trump said. “AstraZeneca is slashing the price of a common inhaler from $458 to $51.”

He added that infertility treatments would also see major cuts.

“We’re also delivering historic discounts for couples struggling with infertility,” he said, citing sharply reduced prices for commonly used IVF drugs, including Gonal-F.

According to Fox Business, the TrumpRx.gov website displays discounted medications along with the percentage savings from their original prices and generates coupons for each eligible prescription.