The Trump administration announced an agreement on Tuesday that Pfizer gives a three-year postponement of planned rates, while the pharmaceutical giant is committed to voluntarily reducing prices on unspecified medicine for US consumers. President Donald Trump has announced a landmark agreement with Pfizer to lower medicine medicine medicines, and promise similar transactions with other drugs in the coming weeks. “I can’t tell you how big it is,” Trump said in the White House at an event with Pfizer CEO Albert Bourla. “We turn the tide and we turn around an unfair situation.” Pfizer To offer ‘the best -beneficiary prices’ prices under the agreement, Pfizer Medicaid will offer a price for most beneficiary nations, which means the company will charge the lowest prices it offers in other developed countries. The agreement also ensures that this pricing model will apply to all new medicines introduced in the US. “The United States has finished subsidizing the healthcare of the rest of the world,” Trump added, emphasizing his administration’s goal of reducing the cost of Americans. Bourla praised the agreement and said, “We turn the tide and we turn around an unfair situation.” He emphasized the business’s commitment to invest $ 70 billion in research, development and domestic manufacturing. Direct-to-consumer platform: TrumPrx As part of the agreement, Pfizer will participate in the new website of the administration, TrumPrx, which will enable Americans to buy medicine directly from manufacturers. TrumPrx is expected to be launched in 2026, and Pfizer plans to offer a average 50%discount, with some medications that see savings up to 85%. Marked medicine includes: Xeljanz (rheumatoid arthritis) list price over $ 6,000 per month Zavzpret (migraine) Eucrisa (Dermatitis) Duavee (post-menopausal osteoporosis) Bourla noted that Pfizer received a three-year-old grace period. BACKGROUND: Trump’s pressure on drugmakers The agreement follows an executive order that drugmakers have ordered to voluntarily reduce prices or to draw up new government restrictions on the compensation. At the end of July, Trump sent letters to 17 major pharmaceutical companies, asking that binding commitments to lower prices to fit in international levels by September 29. Pfizer is the first drug manufacturer to finalize an agreement, with Trump indicating additional agreements in the near future. Scope and impact the price changes will affect Medicaid, covering more than 70 million Americans with low income. However, Medicare, which covers older adults and people with disabilities, is not included in this announcement. Medicare’s medicine spending amounted to $ 216 billion in 2021, while Medicaid’s gross spending was about $ 80 billion. The new prices under the agreement will come into effect in 2026.
Pfizer gets a three -year postponement of planned rates because it agrees to lower drug prices for Americans
