Trump's Big Pharma Deal: Lowering Drug Prices

President Trump is set to announce a major deal with AstraZeneca aimed at lowering U.S. drug prices, featuring a 'most-favored-nation' pricing model for low-income Americans. This follows a similar agreement with Pfizer to ensure medications are more affordable, particularly within the Medicaid program.

President Donald Trump is poised to reveal a significant new agreement with AstraZeneca on Friday, focused on reducing prescription drug prices across the United States. According to reports from the White House, the arrangement features a 'most-favored-nation' drug pricing model designed to benefit low-income Americans, including those utilizing Medicaid. The announcement is anticipated to occur at 5 p.m. ET in the Oval Office, with AstraZeneca CEO Pascal Soriot present.

This development follows a previous arrangement Trump secured with Pfizer, ensuring reduced prescription costs for Americans to align more closely with prices in other developed nations. The intent is to make pharmaceuticals more affordable for the less fortunate, facilitated via Trump's proposed TrumpRx website set to launch next year.

U.S. consumers face some of the highest drug prices globally, often triple what other developed countries pay, prompting Trump's directive to major drugmakers this July to lower prices. AstraZeneca's agreement signals an ongoing commitment from pharmaceutical companies to adjust costs under the president's influence.

(With inputs from agencies.)