Trump's Pharmaceutical Price Slash: Major Deals Announced

U.S. President Donald Trump and major pharmaceutical companies announced agreements to reduce drug prices for Medicaid and other consumers. The deals include significant price cuts and aim to align U.S. costs with global standards. Drugmakers also committed to investing over $150 billion in U.S. R&D and manufacturing.

The Trump administration, in a bid to lower medication costs, announced agreements with nine leading pharmaceutical companies aimed at aligning U.S. drug prices with those of other developed countries. This move is part of a larger initiative to reduce prices for both Medicaid and cash-paying consumers.

During a White House press conference, President Trump, alongside pharmaceutical executives, declared the U.S. would no longer subsidize other nations. Companies like Bristol Myers Squibb, Gilead Sciences, and Roche's U.S. unit Genentech have signed on to this price-slashing deal.

The agreements promise to cut prices on drugs sold to Medicaid and introduce select medications on the TrumpRx.gov platform. Additionally, companies are set to invest over $150 billion in U.S. research, development, and manufacturing, though specifics are yet to be disclosed.