Trump's New Deal: Slashing Drug Prices in the U.S.
President Donald Trump is set to announce a new strategy for lowering U.S. drug prices. This comes after a deal with Pfizer, which agreed to reduce prescription drug costs for Medicaid in exchange for tariff relief. The move aims to match prices paid by patients in other developed countries.
President Donald Trump is poised to reveal a new initiative aimed at reducing drug prices in the United States. This announcement, scheduled for Friday in the Oval Office, follows a recent agreement with Pfizer to lower prescription costs for the government Medicaid program.
Pfizer has consented to reduce its prices for Medicaid to match those in other developed nations, receiving tariff concessions in return. Currently, U.S. citizens pay significantly higher prices for medications compared to their international counterparts, a discrepancy Trump has been eager to address.
The Pfizer deal was the first after Trump urged major drugmakers to commit to price cuts. The upcoming announcement, first reported by CBS News' Jennifer Jacobs, is expected to unveil a new "most-favored-nation" pricing policy.
(With inputs from agencies.)
Google News