In his State of the Union address on Tuesday evening, Mr. Trump repeated a claim the administration has made before: that prescription drug prices have been reduced by as much as 600 percent. On its face, a 600 percent reduction in drug prices would require a pharmaceutical company to pay you five times over to take a medication. Commerce Secretary Howard Lutnick has previously partially defended the claim by saying the percentage reduction is measured relative to the final price rather than the initial one; so going from $100 to $25 would represent a 300 percent price reduction. But that is not what those words mean. When President Joe Biden’s Inflation Reduction Act of 2022 resulted in a 79 percent decrease in some prescription drug costs, would the Trump administration have wanted to frame that achievement as a 376 percent reduction?