Trump's Bold Pharmaceutical Turn: Lower Drug Prices, New Sales Strategy Revealed

President Trump is set to announce Pfizer's plans to reduce medication prices and launch TrumpRx, a direct-to-consumer website. The initiative includes a $70 billion R&D and manufacturing push. Responding to Trump's demand, Pfizer aims to align prices with global standards as U.S. patients face steep prescription costs.

President Donald Trump is gearing up to announce a major pharmaceutical initiative by Pfizer, promising reduced medication prices across the United States. According to a White House official, Trump will unveil this plan on Tuesday, marking a significant shift in the drug pricing landscape.

Pfizer, headquartered in New York, is preparing to launch a direct-to-consumer sales platform dubbed TrumpRx, designed to facilitate easier drug purchases for Americans. This strategic move also encompasses a $70 billion investment in research and development, alongside boosting domestic manufacturing efforts.

In July, Trump urged major pharmaceutical companies to lower drug costs to align with international rates, a concept he's dubbed 'most favored nation pricing.' With a firm deadline set for September 29, Pfizer is leading the charge, becoming the first to comply amidst the looming threat of tariffs.

(With inputs from agencies.)