Pfizer lowers drug prices in the US, company agrees to Trump's price pressure

US President Donald Trump has announced that pharmaceutical giant Pfizer will lower the prices of all its drugs sold under the Medicaid program and introduce new drugs based on the “lowest country” principle—i.e., at the lowest price on foreign markets. Pfizer is the first company to give in to Trump's demands.

The government also plans to launch the TrumpRx web platform, which will allow Americans to order drugs directly from the manufacturer.

Pfizer will sell selected products on the platform. The agreement was accompanied by the threat of tariffs, which the government used as leverage. According to Pfizer's CEO, the company will not have to pay tariffs, will receive a three-year transition period, and will be able to focus more on developing drugs for cancer, obesity, and vaccines.

Pfizer also emphasized that the agreement eliminates a long-standing injustice, as the US had to bear higher costs than other rich countries.

(reuters, mja)