Amid a series of federal policy changes, President Donald Trump and Pfizer announced an agreement this week aimed at lowering prescription drug costs in the United States.
Under the agreement, Pfizer will sell its medicines to state Medicaid programs at the “most favored nation” price, the lowest price offered in other developed nations. The company will also sell certain drugs directly to U.S. consumers at reduced prices through a new government-operated website, TrumpRx.gov. The company said most of its primary care treatments and select specialty medicines will be offered at discounts averaging 50%.
During the announcement, Pfizer CEO Albert Bourla said the agreement provides certainty and stability, supports greater investment in U.S. operations, and helps lower costs for patients. He added that the agreement will allow the company to “invest even more boldly in the United States—fueling growth, creating jobs, and returning manufacturing home.”
The company plans to invest an additional $70 billion in U.S. research, development, and capital projects in the coming years, building on more than $83 billion invested between 2018 and 2024.
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