Summary
President Donald Trump announced agreements with major pharmaceutical companies to lower prescription drug prices in the United States. The deals aim to reduce costs by matching drug prices to those in the lowest-priced developed countries. Some drug prices will decrease significantly for Medicaid recipients and direct-to-consumer purchases.
Key Facts
- President Trump announced deals to lower drug prices with major pharmaceutical companies.
- The agreements aim to match U.S. drug prices with those of the cheapest developed countries.
- U.S. patients currently pay much higher prices for drugs compared to other developed nations.
- The deals will lower prices for some drugs sold to the Medicaid program and directly to consumers.
- Participating companies include Bristol Myers Squibb, Gilead Sciences, Merck, and others.
- Companies involved can receive tariff exemptions for three years in exchange for the price cuts.
- Merck will reduce prices for several drugs, including diabetes and cholesterol medications.
- Some companies have pledged to invest over $150 billion in U.S. research and manufacturing.
