Aug. 31 at 11:51 PM
President Donald Trump announced drug-pricing agreements with nine pharmaceutical companies as part of efforts to lower U.S. healthcare costs. The companies agreed to supply medicines to Medicaid at “most-favored-nation” prices, which are linked to lower prices paid in other developed countries. Trump said the discounts should significantly reduce healthcare costs.
The deals expand agreements reached since last year with 17 major drugmakers, including Pfizer, Eli Lilly and Amgen. Those companies agreed to cut prices for federal health programs and sell certain medicines directly to patients in exchange for tariff relief.
U.S. patients currently pay the highest prescription-drug prices among developed nations, often nearly three times more than patients elsewhere. The latest agreements seek to narrow that gap by requiring participating manufacturers to offer Medicaid prices comparable to those available in other developed markets.
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