President Donald Trump on Aug. 31 announced agreements with nine midsize pharmaceutical companies to reduce drug prices for American patients.
Drugmakers including Alcon, Astellas Pharma, BeOne Medicines, BridgeBio, CSL, Kyowa Kirin, Sun Pharma, Teva Pharmaceuticals, and UCB have agreed to the voluntary deals and will lower prices for life-saving medicines used to treat seizures, bacterial infections, high blood pressure, organ failure, and rare diseases.
The new agreements align with the most-favored-nation drug pricing framework to bring down U.S. drug prices in line with other developed countries. In exchange, the companies would secure tariff relief.
“Under that most-favored-nation agreement, we now pay the lowest price paid by other countries anywhere in the world,” President Donald Trump said from the Oval Office when he announced the deals. …