President Donald Trump is expected to unveil a new plan on Friday aimed at lowering the cost of prescription drugs in the United States, according to a White House official. The official did not
share further details about the announcement, which is scheduled for 5 p.m. ET in the Oval Office.
This move comes just a week after Trump announced a deal with pharmaceutical giant Pfizer. Under that agreement, Pfizer will reduce the prices it charges the government’s Medicaid program—serving low-income Americans—to match the rates it offers in other developed countries. In return, the company will receive some tariff relief.
Americans pay significantly more for prescription drugs than patients in other wealthy nations—often nearly triple the cost. Trump has been pushing major drug companies to narrow that gap and make medications more affordable at home.
Pfizer became the first major drugmaker to reach a pricing agreement with the administration after Trump sent letters in July to 17 leading pharmaceutical firms, demanding concrete plans to cut prices by the end of September.
According to CBS News reporter Jennifer Jacobs, who cited sources familiar with the matter, Friday’s event will feature another “most-favored-nation” pricing deal—an approach that ties U.S. drug costs to those in countries where prices are lowest. Photo by Gage Skidmore from Peoria, AZ, United States of America, Wikimedia commons.
