Trump, agreement with AstraZeneca - The company will offer discounts on most drugs
US President Donald Trump announced a deal with British pharmaceutical company AstraZeneca that will see some of its drugs sold at a discount to the state-run Medicaid health care program. The pact is similar to one reached last week with Pfizer.
The deals suggest a new model that the White House intends to pursue to bring down drug prices in the U.S. In July, the president sent letters to 17 major pharmaceutical companies, asking them to reduce prices. Pfizer and AstraZeneca are the first to agree to a deal with the administration.
AstraZeneca CEO Pascal Soriot said during an Oval Office event that the company will also offer discounts on some of its drugs through its TrumpRx website, which is expected to launch next year. Soriot said AstraZeneca will get a three-year exemption from tariffs "to localize the rest of its products in the US."
American patients currently pay significantly more for prescription drugs, often up to three times more than in other developed countries. Trump has therefore put pressure on pharmaceutical companies to lower prices, bringing them closer to those of other countries, or face heavy tariffs. Last month, the American leader threatened a 100% tax, and demanded that production be moved to the United States.
Medicare spending on drugs reached $216 billion in 2021, while Medicaid gross costs were about $80 billion.
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