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Nine of the largest pharma companies ink deals with Trump to lower drug prices
Nine major drugmakers agreed to voluntary deals reducing U.S. drug prices to match foreign levels and pledged $150 billion in U.S. manufacturing and research investments, officials said.
- On Friday, United States President Donald Trump announced new agreements with nine pharmaceutical companies to lower U.S. prescription drug prices, saying `We're not doing it anymore` at a White House news conference.
- Pressure from the administration and earlier deals earlier this year prompted companies to negotiate, with Trump sending letters in July to 17 major pharmaceutical companies seeking Medicaid pricing and launch price limits.
- Companies agreed to cut direct-to-consumer prices and distribute medicines via a new TrumpRx platform set to launch in January, with Merck offering diabetes drugs about 70 percent off list prices and Amgen pricing Aimovig and Amjevita at $299 a month.
- Officials promised immediate `massive savings` but offered no firm figures; investors calmed, though analysts warn it will take years to judge effectiveness and some patients may still pay hundreds monthly.
- Companies pledged more than $150bn in U.S. investment, officials said, but Medicaid programme accounts for approximately 10 percent of U.S. drug spending, and experts caution it will take years to gauge impact.
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By SALLY HO - US President Donald Trump announced Friday that nine drug manufacturers have agreed to lower the cost of their prescription drugs in the United States. The pharmaceutical companies Amgen, Bristol Myers Squibb, Boehringer Ingelheim, Genentech, Gilead Sciences, GSK, Merck, Novartis, and Sanofi will now keep Medicaid drug prices in check to match what they charge in other developed countries. As part of the agreement, new drugs produc…
·Chicago, United States
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(Washington = Yonhap News) Correspondent Lee Yu-mi = Nine global pharmaceutical companies have agreed to lower the prices of key drugs they sell in the United States amid pressure from the Donald Trump administration...
·Korea, Republic of
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Total News Sources93
Leaning Left18Leaning Right11Center38Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 27%
C 57%
R 16%
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