Trump says Pfizer to cut drug prices, launch sales via TrumpRx
WASHINGTON: President Donald Trump announced on Tuesday (Sep 30) that Pfizer will slash prices on all prescription drugs sold to the Medicaid programme and introduce new medicines at a “most favoured nation” price.
The White House will also roll out a direct-to-consumer website, TrumpRx, to allow Americans to buy medicines online. Pfizer will sell some of its drugs directly through the platform.
PRESSURE CAMPAIGN ON DRUGMAKERS
In July, Trump sent letters to 17 major pharmaceutical firms, demanding they match US drug prices to lower rates charged abroad. He gave them until Sep 29 to respond with binding commitments.
Pfizer is the first company to reach an agreement. A company spokesperson was not immediately available for comment.
The administration has held one-on-one talks with companies, Health Secretary Robert F. Kennedy Jr said last month. Commerce Secretary Howard Lutnick has also wielded the threat of tariffs on the drug industry to press firms to accept the pricing plan.
