Trump to announce 'TrumpRx' site for discounted drugs and deal with Pfizer
5 hours ago
- #Drug Pricing
- #Trump Administration
- #Healthcare
- President Trump announced efforts to lower drug costs, including a 'TrumpRx' website and a deal with Pfizer.
- Pfizer agreed to sell drugs to Medicaid at 'Most Favored Nation' prices and offer 50% savings on TrumpRx.
- Trump criticized global price disparities, noting U.S. drug prices are nearly three times higher than in peer countries.
- An executive order in May revived 'Most Favored Nation' pricing, targeting drugmakers to comply or face consequences.
- TrumpRx aims to sell drugs directly to consumers, bypassing insurance, with discounts off list prices.
- PhRMA launched AmericasMedicines.com to connect patients with direct-purchase programs from drug companies.
- Pfizer will invest $70 billion in U.S. research and manufacturing, receiving a three-year tariff grace period.
- Industry experts warn 'Most Favored Nation' pricing could lead to higher prices abroad rather than lower U.S. prices.
- Trump lacks legal authority to enforce 'Most Favored Nation' pricing, making compliance voluntary for drugmakers.