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Trump Says Signed "Most Favored Nation" Deals with Nine Pharma Giants
(MENAFN) US President Donald Trump unveiled Friday that he has finalized "most favored nation" agreements with nine major pharmaceutical manufacturers, a sweeping initiative designed to slash prices on critical medications for American consumers.
The accords with Amgen, Boehringer Ingelheim, Bristol Myers Squibb, Genentech, Gilead, GlaxoSmithKline, Merck, Novartis and Sanofi represent Trump's most ambitious push yet to dismantle the US' notoriously inflated prescription drug costs.
"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," Trump declared from the Oval Office, surrounded by pharmaceutical industry executives.
"Right now, sometimes it's 10 times higher. We've been laughed at and scoffed at for years, for years," he added.
The arrangement encompasses medications treating cardiovascular disease, hypertension, HIV and additional life-threatening conditions. Americans will access the reduced pricing through the direct-to-consumer TrumpRX.gov portal, scheduled to go live in January.
The deals could deliver substantial savings to millions of patients who currently face cost barriers to essential treatments, though implementation details and enforcement mechanisms remain to be clarified.
The accords with Amgen, Boehringer Ingelheim, Bristol Myers Squibb, Genentech, Gilead, GlaxoSmithKline, Merck, Novartis and Sanofi represent Trump's most ambitious push yet to dismantle the US' notoriously inflated prescription drug costs.
"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," Trump declared from the Oval Office, surrounded by pharmaceutical industry executives.
"Right now, sometimes it's 10 times higher. We've been laughed at and scoffed at for years, for years," he added.
The arrangement encompasses medications treating cardiovascular disease, hypertension, HIV and additional life-threatening conditions. Americans will access the reduced pricing through the direct-to-consumer TrumpRX.gov portal, scheduled to go live in January.
The deals could deliver substantial savings to millions of patients who currently face cost barriers to essential treatments, though implementation details and enforcement mechanisms remain to be clarified.
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