President Donald Trump on Friday announced the implementation of three measures designed to lower prescription drug prices.

In a press conference at the White House, Trump said that "these reforms will save Americans patients many, many billions of dollars every single year."

The measures are pursuant to executive orders he signed earlier this year.

According to a Fox Business report, the first would end rebates provided to pharmacy benefit managers, who are supposed to pass them on to commercial plans.

It would then allow consumers to get the discounts directly at the pharmacy counter. However, some had expressed concerns that this policy could result in higher Part D premiums for beneficiaries.

The second measure would require Medicare to look and purchase drugs at the same prices paid by other countries. Instead of paying "the highest price on the list," the policy will require to pay for "the lowest price."

The third one is about ending the Unapproved Drug Initiative designed to prevent the use of unapproved drugs. However, the program has allegedly allowed drugmakers to exploit older drugs that had received renewed approval and exclusivity by increasing prices.

According to the Fox report, one study found that the prices hiked by more than 1,664 percent after approval.

In July, Trump has signed four executive orders designed to lower prescription drug prices through different methods, like allowing medications to be imported from other countries, as stated in earlier reports.

Trump earlier said that the four executive orders would lead to a massive decrease in drug prices.

"[The measures] will completely restore the prescription drug market in terms of prices," he noted in a report.

The president previously claimed that drug prices came down for the first time in more than five decades because of his administration. He added that he was determined to lower the prices further.

Aside from announcing the three measures, Trump claimed that drugmaker Pfizer played corrupt games with the timing of the COVID-19 vaccine data, as per a New York Post report.

He said the timing was done to sink both his reelection and his policies to cut drug prices. He then urged his successor to maintain his drug price reforms.

I just hope they keep it. I hope they have the courage to keep it because the powerful drug lobby, Big Pharma, is putting pressure on people like you wouldn't believe," Trump said in a The New York Post report.

Pfizer initially announced that its potential vaccine is 90 percent effective. The drug making company made the announcement six days after the Nov. 3 election.

Trump said if the company release the vaccine news before the election, it could have helped him defeat Democratic presidential nominee Joe Biden.

However, Pfizer denied the allegations of delaying the results of its COVID-19 vaccine for political purposes. The firm has already applied for emergency use authorization.

Meanwhile, Trump added that the country would not have a coronavirus vaccine on the way if he had not been working to oversee its development.

"You wouldn't have a vaccine if it weren't for me for another four years," he noted.

Through Operation Warp Speed, the Trump administration invested billions in developing a safe vaccine, with a goal of having 300 million doses by January.