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President Donald Trump has struck a multi-pronged deal with pharmaceutical giant Pfizer to lower the price of some of the company’s medicines, while clearing a path for the drugmaker to receive a three-year reprieve from certain tariffs.
The drugmaker will participate in a new direct purchasing platform named TrumpRx.gov that will let American patients buy a “large majority” of its primary care treatments and “some select specialty brands” at a discount. Those drugs will be offered at “savings that will range as high as 85% and on average 50%,” Pfizer said in a press release Tuesday.
The deal comes after Trump demanded that 17 of the largest drugmakers voluntarily offer their medicines at levels similar to what they charge other nations.