WASHINGTON — President Trump announced on Tuesday that Pfizer has agreed to offer lower prices on its drugs to the Medicaid program and directly to patients, the first in what he said would be a series of deals intended to secure cheaper prescription medicines for the U.S.
Pfizer also agreed to launch new medicines at prices “at parity” with those in other countries, the company and administration officials said. In return, provided Pfizer continues to invest in U.S. manufacturing, the company will not have to pay certain tariffs on drugs imported into the U.S., Trump said.
Pfizer is the first drugmaker to publicly announce a deal with the administration to lower its drug prices, helping the president secure a win on a major priority, though many of the details remain under wraps. At a White House event, Trump said the administration is making deals with other companies, and plans to announce them soon.
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