Trump set to unveil US drug pricing deal at the White House
President Donald Trump is expected to announce on Friday a plan to lower U.S. drug prices, according to a White House official, though they declined to provide further details.
The announcement, which follows a deal Trump announced last week with U.S. drugmaker Pfizer is set to take place at 5 p.m. ET (2100 GMT) in the Oval Office, the official said, News.Az reports citing Reuters.
Pfizer has agreed to lower prescription drug prices in the government Medicaid program for lower-income Americans to what it charges in other developed countries in exchange for tariff relief.
U.S. patients currently pay by far the most for prescription medicines, often nearly three times more than in other developed nations, and Trump has been pressuring drugmakers to lower their prices to what patients pay elsewhere.
Pfizer was the first major pharmaceutical company to announce a deal with Trump after the president sent letters to 17 leading drugmakers in July telling them to slash prices. He asked them to respond with binding commitments by September 29.
The news of an impending second drug pricing announcement was first reported by CBS News reporter Jennifer Jacobs in a post on X, citing people familiar with the matter. Jacobs said a new "most-favored-nation" pricing deal would be announced at the event.
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