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Trump finalizes drug price deals with nine pharmaceutical companies
(MENAFN) US President Donald Trump said on Friday that his administration has finalized “most favored nation” pricing agreements with nine major pharmaceutical firms aimed at reducing the cost of certain medications for Americans.
The arrangements involve Amgen, Boehringer Ingelheim, Bristol Myers Squibb, Genentech, Gilead, GlaxoSmithKline, Merck, Novartis and Sanofi, marking another step in Trump’s broader push to address what he has long criticized as excessively high drug prices in the United States.
Speaking at the White House alongside executives from the pharmaceutical industry, Trump said the companies committed to lowering prices on their leading products. "They've agreed to offer many of their flagship drugs, really, all of their flagship drugs, at heavily discounted Most Favored Nations prices. In other words, whatever the drug sells for in the world, whatever the lowest number is, if it's Germany, if it's in UK, anywhere, we will match that price," he said.
He contrasted the new pricing approach with current disparities, adding, "Right now, sometimes it's 10 times higher. We've been laughed at and scoffed at for years, for years."
The medications covered under the agreements include treatments for serious conditions such as heart disease, high blood pressure, HIV, and other life-threatening illnesses. Under the plan, the reduced prices will be made available directly to US consumers through the TrumpRX.gov website, which is expected to go live in January, according to reports.
The arrangements involve Amgen, Boehringer Ingelheim, Bristol Myers Squibb, Genentech, Gilead, GlaxoSmithKline, Merck, Novartis and Sanofi, marking another step in Trump’s broader push to address what he has long criticized as excessively high drug prices in the United States.
Speaking at the White House alongside executives from the pharmaceutical industry, Trump said the companies committed to lowering prices on their leading products. "They've agreed to offer many of their flagship drugs, really, all of their flagship drugs, at heavily discounted Most Favored Nations prices. In other words, whatever the drug sells for in the world, whatever the lowest number is, if it's Germany, if it's in UK, anywhere, we will match that price," he said.
He contrasted the new pricing approach with current disparities, adding, "Right now, sometimes it's 10 times higher. We've been laughed at and scoffed at for years, for years."
The medications covered under the agreements include treatments for serious conditions such as heart disease, high blood pressure, HIV, and other life-threatening illnesses. Under the plan, the reduced prices will be made available directly to US consumers through the TrumpRX.gov website, which is expected to go live in January, according to reports.
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