U.S. President Donald Trump speaks throughout a press convention within the Roosevelt Room on the White House in Washington, D.C., U.S., May 12, 2025.
Nathan Howard | Reuters
President Donald Trump on Tuesday will announce an agreement with Pfizer to voluntarily promote its drugs at lower prices, as his administration pushes to hyperlink U.S. drug prices to the cheaper prices paid overseas.
Trump will announce a drug pricing take care of Pfizer at 11 a.m. ET, a White House official instructed CNBC’s Eamon Javers. Pfizer CEO Albert Bourla will likely be in attendance, the official mentioned.
The agreement includes discounted prices in Medicaid and a three-year reprieve on deliberate pharmaceutical tariffs so long as the corporate is constructing manufacturing crops within the U.S., a supply instructed CNBC’s Angelica Peebles.
Pfizer didn’t instantly reply to a request for remark. The Washington Post first reported the information on Tuesday.
Trump despatched letters to Pfizer and 16 other drugmakers calling on them to take steps to lower drug prices by Sept. 29. The letter got here after Trump in May signed an govt order reviving a controversial plan, the “most favored nation” coverage, that goals to slash drug costs by tying the prices of some medicines within the U.S. to the considerably lower ones overseas.
The deal comes as drugmakers brace for Trump’s planned tariffs on pharmaceuticals imported into the nation.
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