- President Donald Trump announces an agreement with Pfizer to significantly lower drug prices in the U.S.
- Certain medications will be sold online at discounts of 50% to 100% through a government website named TrumpRX.
- Pfizer commits to investing $70 billion toward expanding U.S. pharmaceutical manufacturing facilities.
- All new Pfizer drugs in the U.S. will be priced at levels comparable to the lowest prices paid internationally.
- Additional tariffs on pharmaceuticals may be imposed if other companies do not lower prices or invest in U.S. production by October 2025.
President Donald Trump on Tuesday unveiled a new deal with pharmaceutical company Pfizer to reduce the costs of popular medications and boost domestic manufacturing. The agreement allows consumers to purchase select drugs online at reduced prices via a government-run platform called TrumpRX.
Announcing the deal at the White House, Trump said that Pfizer would offer some of its most used medications with discounts ranging from 50% to 100%. These discounted drugs will be offered for direct purchase to U.S. consumers paying cash through the TrumpRX website. The drug pricing deal is backed by a $70 billion commitment from Pfizer to enhance and expand its pharmaceutical manufacturing capacity in the United States.
Trump stated, “They’re going to bring a lot of their facilities to make their drugs…right here in America,” confirming that the investment will also support research and development. He further announced that all new medicines launched by Pfizer in the U.S. will be sold at “most favored patient costs,” referencing efforts to match domestic drug prices to the lowest available rates abroad.
Pfizer CEO Albert Bourla said, “With this deal we’ve signed today, we have satisfied all four of the President’s requirements.” He attributed the company’s decision to a three-year exemption from new tariffs on pharmaceuticals, which was part of the agreement. These tariffs were intended to encourage pharmaceutical manufacturing in the U.S. and lower prices for American consumers.
Trump warned that additional tariffs between 5% and 8% could be applied to other pharmaceutical companies that fail to cut prices or invest in U.S.-based production facilities. He also referenced a recent policy announcement to impose 100% tariffs on branded or patented drugs unless manufacturers begin U.S. manufacturing by October 1, 2025.
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