Trump Strikes Drug Pricing Deal with AstraZeneca Amid Tariff Relief

At the Oval Office on Friday, President Donald Trump revealed a significant agreement with UK-based pharmaceutical giant AstraZeneca. This groundbreaking deal promises discounted medicine prices for Medicaid recipients in return for tariff exemptions, replicating a previous accord with Pfizer.

The strategy forms part of the White House's broader campaign to slash U.S. prescription drug prices, with Trump previously urging 17 major drug manufacturers to reduce costs. AstraZeneca and Pfizer are the first to respond favorably to the administration's requests.

While AstraZeneca's discounted prices offer a potential boon to Medicaid, the impact on broader health insurance premiums remains uncertain, according to experts. Nonetheless, the company's commitment to invest in U.S. production aligns with Trump's emphasis on domestic manufacturing and economic growth.

(With inputs from agencies.)