Pharmaceutical Giants Cut Prices Amid Direct-to-Consumer Sales Surge

Major pharmaceutical companies are taking significant steps to address President Trump's call for lower drug prices in the U.S. by shifting their focus to direct-to-consumer sales. These actions follow Trump's push to cut out intermediaries like pharmacies and insurers and bring down the cost of medicines for patients.

AbbVie, AstraZeneca, and Bristol-Myers Squibb are among the companies announcing price reductions. AbbVie plans to match U.S. and UK prices for its ovarian cancer drug, while AstraZeneca offers discounts on medications under a deal with the Trump administration for tariff relief. Bristol-Myers Squibb announced significant discounts on blood clot and psoriasis treatments.

In a notable development, Pfizer agreed to align its U.S. Medicaid prices with international rates and committed to a $70 billion investment in research and development. The industry's response comes as part of broader efforts to make prescription drugs more affordable in the U.S., amid mounting pressure and upcoming regulatory changes.