Trump and Pfizer to Reveal Agreement Reducing Drug Prices
U.S. President Donald Trump to Announce Major Agreement with Pfizer on Drug Pricing
In a significant move aimed at reducing healthcare costs for Americans, U.S. President Donald Trump is set to announce a groundbreaking agreement with Pfizer. This initiative, taking place on May 12, 2025, in the Roosevelt Room at the White House, is part of the administration’s broader strategy to align U.S. drug prices with those found in international markets.
Details of the Agreement with Pfizer
According to a White House official, the announcement will occur at 11 a.m. ET, with Pfizer’s CEO, Albert Bourla, expected to be present. This new agreement includes:
- Voluntary reduced prices for medications provided through Medicaid.
- A three-year suspension of planned pharmaceutical tariffs, contingent upon Pfizer expanding its manufacturing operations in the United States.
As the pharmaceutical industry prepares for these changes, Pfizer, along with 16 other major drugmakers, is facing a deadline set by Trump to implement measures aimed at lowering drug costs. While Pfizer has not yet commented publicly on the agreement, the news initially boosted the company’s stock, which rose by more than 3% following the report.
Trump’s Ongoing Efforts to Lower Drug Costs
This announcement follows Trump’s executive order from May, which resurrected the previously contentious “most favored nation” policy. This policy aims to dramatically decrease drug prices in the U.S. by directly tying the cost of specific medications to the much lower prices available in other countries. The ongoing push to amend drug pricing reflects a significant priority for the Trump administration, particularly in light of impending pharmaceutical tariffs on imports.
This developing story is expected to evolve as further updates arise. For the latest information, please check back regularly.
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