Connect with us

Hi, what are you looking for?

World

Trump Secures Deal with Pfizer to Slash Prescription Drug Prices

President Donald Trump announced a significant agreement with the pharmaceutical company Pfizer on October 3, 2023, aimed at reducing prescription drug prices for American consumers. This deal, described as a shift towards “most-favored-nation” pricing, ensures that drug prices in the United States align with the lowest prices paid by other developed nations.

During a press conference in the Oval Office, Trump emphasized the potential financial relief for consumers, stating, “To all consumers at heavily discounted prices or anywhere between 50% and even 100%.” The agreement specifies that every state Medicaid program will have access to these discounted prices, compelling Pfizer to sell its medications at significant reductions when providing them to American patients.

Robert F. Kennedy Jr., Secretary of Health and Human Services, reinforced the importance of the initiative, declaring, “No family should ever be forced to choose between filling a prescription and putting food on the table.” This agreement marks a notable response to Trump’s earlier July 2023 letter to various drug manufacturers urging them to take action on lowering prices.

Key Medications and Discounts

As part of this initiative, several specific medications have been highlighted. These include Eucrisa, a topical ointment for atopic dermatitis, which will be sold at an 80% discount. Xeljanz, an oral treatment for rheumatoid arthritis, psoriatic arthritis, and ulcerative colitis, will be available at a 40% discount. Additionally, Zavzpret, a treatment for migraines, will see a 50% discount for direct purchases.

Pfizer’s CEO, Albert Bourla, described the agreement as a “landmark” move that will positively impact Americans’ ability to afford necessary medications. “There is no doubt about it. They are the ones that will see a significant impact in their ability to buy medicines,” Bourla stated.

Direct-to-Consumer Website Launch

In conjunction with the drug pricing deal, Trump unveiled a new website called “TrumpRx,” designed to facilitate direct purchases of medications at discounted rates. The platform will allow consumers to buy specific drugs, including those from Pfizer, directly online. “These drugs will be available for direct purchase online at a website operated by the federal government,” Trump explained.

Furthermore, the agreement includes a substantial investment by Pfizer, amounting to $70 billion directed towards U.S. manufacturing and research. In exchange, Pfizer will receive a three-year exemption from tariffs, which aims to bolster domestic production capabilities.

Trump indicated that discussions with additional drug manufacturers are on the agenda for the following week, potentially paving the way for further agreements aimed at making medications more affordable for American families.

This recent development highlights the administration’s ongoing efforts to address the high costs of prescription drugs, a critical issue affecting many citizens across the nation.

You May Also Like

Technology

Tesla (TSLA) recently reported a year-over-year drop in second-quarter deliveries, yet the market responded with optimism, pushing the stock up by 5%. This unexpected...

Health

The All England Lawn Tennis Club in London experienced its hottest-ever opening day on Monday, as the prestigious Wimbledon tournament kicked off under unprecedented...

Technology

In a bold reimagining of the DC Universe, director James Gunn has introduced a significant narrative element in his latest film, which reveals that...

Science

Look out, daters: a new toxic relationship trend is sweeping through the romantic world, leaving many baffled and heartbroken. Known as “Banksying,” this phenomenon...

Technology

Former Speaker of the House Nancy Pelosi has recently made headlines with her latest investment in the tech sector. According to official filings, she...

Entertainment

Netflix’s eagerly anticipated talent competition Building the Band is set to premiere on July 9, promising an emotional journey for viewers. This series, centered...

Entertainment

A new documentary series titled “Animals on Drugs” is set to premiere on the Discovery Channel on July 28, 2023. The three-part series follows...

Technology

The answer to today’s NYT Wordle, dated August 8, 2025, is the verb IMBUE. This word, which means “to fill or saturate,” features three...

World

The first dose of the hepatitis B vaccine is recommended at birth, a practice that has come under scrutiny following recent comments by Health...

Sports

ZAGREB, Croatia — A concert by Marko Perkovic, a right-wing Croatian singer known for his controversial views, attracted tens of thousands of fans to...

Technology

The Evo 2025 tournament is set to take place from August 1 to August 3, 2025, showcasing some of the most popular fighting games...

Sports

As the summer of 2025 unfolds, the video game industry is set to deliver a diverse array of new releases that promise to captivate...

Politics

Billionaire hedge fund manager Bill Ackman faced significant backlash following his professional tennis debut at the Hall of Fame Open in Newport, Rhode Island,...

Lifestyle

The upcoming TRNSMT 2025 festival is set to take place from July 7 to July 9, 2025, at Glasgow Green, and organizers have released...

Business

Erin Dana Lichy, a prominent cast member of “Real Housewives of New York,” has officially settled into her dream home, a grand townhouse located...

Entertainment

While the echoes of Summer Game Fest 2025 and the Xbox Games Showcase still resonate, Xbox has already set its sights on the next...

Copyright © All rights reserved. This website provides general news and educational content for informational purposes only. While we strive for accuracy, we do not guarantee the completeness or reliability of the information presented. The content should not be considered professional advice of any kind. Readers are encouraged to verify facts and consult appropriate experts when needed. We are not responsible for any loss or inconvenience resulting from the use of information on this site.