Trump Secures Landmark Pfizer Deal: Discounted Drugs for Americans
President Donald Trump has announced a landmark deal with Pfizer to significantly reduce the cost of prescription medications for Americans. The agreement, part of the Trump administration's TrumpRx initiative, will offer discounted prices on some of Pfizer's most popular drugs, with savings ranging from 50% to 100%.
Pfizer CEO Albert Bourla described the deal as a 'historic day', marking the reversal of an 'unfair situation' and putting American patients first. The agreement is based on the 'most favoured nation' drug pricing model, introduced earlier this year. Under this model, Pfizer will offer its medications at reduced prices through a federal government-operated website and direct online purchases.
The pharmaceutical giant plans to invest $70 billion in manufacturing and research within the US over the coming years. This investment supports Pfizer's participation in the TrumpRx initiative and will expand the development of crucial treatments, including cancer therapies, obesity medications, vaccines, and other essential drugs. The Trump administration hailed the agreement as a major step in lowering drug costs and increasing access to vital medications for Americans nationwide.
Trump warned that pharmaceutical companies failing to lower prices could face tariffs equivalent to the gold price difference. Pfizer's agreement with the US government is expected to pave the way for other pharmaceutical companies to follow suit in the coming weeks, potentially leading to further reductions in drug prices for American consumers.
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