US president has pitched initiative as populist attack on pharmaceutical companies, but analysts question if prices will be affordable for many people.

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United States President Donald Trump has launched a new website that he says will lower the cost of prescription medicines, which have long stood out for their sky-high prices in the US compared with similar products around the world.

Trump announced the launch of the new website called TrumpRx, which allows consumers to buy discounted drugs directly from pharma companies, at an event at the White House on Thursday.