Trump announces nine most-favored-nation deals to lower drug prices
The Trump administration announced nine new drug price reduction deals with midsize pharmaceutical companies in an effort to continue lowering prescription drug costs ahead of the November midterm elections.
TL;DR
- Nine midsize pharmaceutical companies have signed new drug price reduction deals with the Trump administration.
- These deals aim to lower prescription drug costs for Americans ahead of the November midterm elections.
- Companies have agreed to offer drugs at the lowest international prices and reduce prices for state Medicaid programs.
- The administration believes these deals will lead to billions of dollars in research and development investment in the U.S.
- Pharmaceutical prices have already seen a significant annual decline, the steepest in over 60 years.
- The administration is lobbying Congress to codify these most-favored-nation (MFN) drug deals into law.