Trump's Big Pharma Deal: Lower Drug Prices with Pfizer

President Trump is set to announce a deal with Pfizer to reduce drug prices under Medicaid. This move urges pharmaceutical companies to match U.S. prices with those of other affluent nations. The administration aims for fairness in drug pricing, ensuring lower costs for American consumers.

President Donald Trump is prepared to unveil a breakthrough deal with pharmaceutical giant Pfizer, aimed at reducing the cost of medications available through Medicaid. According to the Washington Post, the agreement will facilitate access to lower drug prices for American patients, aligning them with international rates.

The Trump administration has been committed to advocating for the 'most-favored-nation' policy, which ensures that drug prices in the U.S. are on par with those in other high-income countries. In July, the President communicated with 17 major drugmakers, including Pfizer, urging them to cut prices to international standards.

Despite multiple requests for comment, both the White House and Pfizer have yet to respond. The anticipated agreement reflects ongoing efforts to prioritize consumer affordability in the pharmaceutical industry, a key aspect of the administration's healthcare agenda.

(With inputs from agencies.)