Nine pharmaceutical firms ink deals with Trump to lower drug prices
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The news: US President Donald Trump announced deals with nine leading US and European pharmaceutical companies on Friday to voluntarily sell their medications for lower prices.
The numbers: The Trump administration has been pushing to link US drug prices to more affordable ones abroad.
Roche Holding AG’s Genentech unit, Novartis, Bristol-Myers Squibb, Gilead Sciences, Boehringer Ingelheim, Amgen, GSK, Sanofi and Merck have now negotiated agreements with the administration. The agreements are similar to the deals struck earlier this year by Pfizer, Eli Lilly, Novo Nordisk and AstraZeneca.
Johnson & Johnson, AbbVie and Regeneron have not yet signed drug pricing deals, but Trump noted that Johnson & Johnson “will be here next week.”
Bloomberg reported that Friday’s pledges mean 14 of the 17 drugmakers targeted by Trump earlier this year have agreed to lower prices for the Medicaid program for low-income and disabled people, to sell discounted drugs directly to consumers and to launch new medicines for the same prices in the US as they do abroad.
Trump said that the discounted drugs will be rolled out on the TrumpRX website when it launches in the new year. Few details on terms of the roll-out had been released.
The source: White House announcement
