(MENAFN) In a major development affecting millions of Americans, President Donald Trump announced Tuesday that Pfizer has agreed to provide substantial discounts on a wide range of prescription medications, citing a policy shift under the administration's drug pricing reform.

“Pfizer has agreed to offer countless prescription medications and major discounts in the United States as a result of the most favored nation drug pricing model that we established early this year,” Trump said during remarks from the Oval Office.

According to Trump, the agreement includes deep discounts on some of Pfizer’s most widely used drugs, with price cuts ranging from 50% to a full 100% off retail cost.

“These drugs will be available for direct purchase online and a website operated by the federal government,” he added.

The president also signaled that similar deals could soon follow from other pharmaceutical manufacturers.

He noted that several companies are expected to adopt comparable pricing strategies “over the next week,” and issued a warning that any firm unwilling to cooperate could face retaliatory trade measures.

“We're making deals with all of them, and I said, if we don't make a deal, then we're going to tariff them, an extra 5-6-7-8% whatever the difference is,” Trump stated, adding that tariffs would match the amount by which U.S. drug prices exceed international rates.

Pfizer Chairman and CEO Albert Bourla called the announcement a turning point for American health care.

“It is a historic day because I think today we are turning the tide, and we are reversing an unfair situation,” Bourla said.

Bourla emphasized that the ultimate beneficiary of the agreement will be the American public.

“The big winner,” he said, “will be the American patient.”

He also disclosed that Pfizer plans to inject $70 billion into U.S.-based manufacturing and pharmaceutical research over the coming years, as part of a broader commitment to the domestic market.

“I really think this is an historical moment, because also I can put that behind us and focus on the things that I want to spend my time -- cancer treatments to bring better obesity medicines, to bring better vaccines, to bring things that people value,” Bourla added.

The deal marks one of the most sweeping price reduction efforts undertaken by a major drugmaker in recent years and could signal a broader shift in the pharmaceutical industry’s approach to U.S. pricing amid intensifying political pressure.

MENAFN01102025000045017169ID1110134641