Trump's Prescription Drug Pricing Shakeup
President Donald Trump announced that Pfizer will reduce prices for prescription drugs sold through Medicaid. A new direct-to-consumer platform, TrumpRx, will be launched, allowing consumers to purchase drugs at competitive prices. The U.S. government is negotiating with drug companies, using tariff threats as leverage.
In a significant move aimed at reducing healthcare costs, President Donald Trump declared on Tuesday that Pfizer will slash prices on all prescription drugs sold to the Medicaid insurance program. The pharmaceutical giant will also introduce new prescription drugs at preferential 'most favored nation' pricing.
Additionally, the White House plans to launch TrumpRx, a direct-to-consumer platform enabling Americans to purchase medications at competitive prices. Through this initiative, Pfizer aims to make some of its drugs directly available to the consumer through this new website.
The U.S. government has been in discussions with leading pharmaceutical companies, with Health Secretary Robert F. Kennedy Jr. highlighting the use of potential tariffs as negotiating leverage. While Pfizer became the first company to agree to the new terms, responses from others are anticipated by the end of September.
(With inputs from agencies.)
Google News