Key Facts

• The agreements involve nine midsize biotech and pharmaceutical companies.
• The deals apply to state Medicaid programs, which provide health coverage to low-income people.
• The companies agreed to offer their drugs at the lowest price they charge anywhere in the world.
• President Trump made the announcement in the Oval Office, with executives from the companies present.
• The goal is to reduce medication costs for Medicaid recipients.
• Medicaid is a government program that helps people pay for health care based on income.
• The agreements aim to make spending on drugs more affordable for states using Medicaid.