Trump Secures Major Drug Price Cuts From Top Pharma Companies

US President Donald Trump announced an agreement with nine pharmaceutical companies to lower prescription drug prices in the US. The deal aims to align US drug prices with those in other developed nations and could impact Medicaid, Medicare, and the uninsured, seeking to improve affordability and access.

In a significant announcement, US President Donald Trump revealed that nine major drugmakers, including Amgen, Bristol Myers Squibb, and Merck, have committed to reducing the cost of prescription drugs in the United States.

This agreement is part of a broader effort to align US drug prices with those of other developed countries, potentially benefiting Medicaid, Medicare, and uninsured Americans. New medications launched under the agreement will be subject to the 'most-favoured-nation' pricing policy, ensuring competitive rates for all, including commercial and cash-pay markets.

While the initiative promises to curb escalating drug prices, experts like William Padula emphasize that the long-term impact on health equity and pharmaceutical innovation remains to be seen. The Trump administration's negotiations come as a pivotal move in addressing exorbitant drug costs, a pressing issue for US consumers.

(With inputs from agencies.)