Watch live: Trump makes announcement on drug pricing

President Trump will make an announcement Monday afternoon tied to his efforts to make healthcare more affordable — after insurance prices skyrocketed when expanded subsidies under the Affordable Care Act expired late last year .

The announcement comes as Trump has made lowering prescription drug costs a key part of his broader healthcare agenda , including efforts to bring U.S. prices closer to those paid in other countries.

The president launched his TrumpRx platform in February, creating a one-stop site where consumers can search for prescription drugs and access discounts offered directly by participating manufacturers. Hundreds of generic medications have since been added .

The event is scheduled to begin at 3 p.m. EDT.