Trump says Pfizer will cut drug prices for tariff relief, promises other drug maker deals
The White House is also planning a direct-to-consumer website called TrumpRx for Americans to buy medication
US President Donald Trump on Tuesday said Pfizer will cut the price of all prescription drugs in the Medicaid programme for low-income Americans and sell new prescription drugs at a “most favoured nation” price in exchange for tariff relief.
Trump also said he expects other drug makers to follow suit.
US patients currently pay by far the most for prescription medicines, often nearly three times more than in other developed nations, and Trump has been pressuring drug makers to lower their prices to what patients pay elsewhere.
“The United States is done subsidising the healthcare of the rest of the world,” Trump said, speaking at an event in the Oval Office accompanied by Pfizer CEO Albert Bourla, Health Secretary Robert F. Kennedy Jnr and others.
Pfizer is the first drug company to announce a deal. Trump sent letters to 17 leading drug companies in July telling them to slash drug prices to match those paid overseas – a policy the president has called most favoured nation pricing. He asked them to respond with binding commitments by September 29.
The White House is also planning to unveil a direct-to-consumer website for Americans to buy drugs, called TrumpRx. Pfizer will launch sales of some of its drugs directly to consumers through that website.
