US President Donald Trump has announced sweeping agreements with major pharmaceutical companies to lower prescription drug costs, calling it the biggest cut in drug prices in the US history.
Speaking at the White House, President Trump said one of the leading firms, Regeneron, had agreed to offer medicines at most-favoured-nation prices, adding that the numbers will come down at levels that nobody’s ever seen before.
With this announcement, 17 of the world’s largest pharmaceutical companies, representing 80% of the branded drug market, have now agreed to sell their drugs to American patients at the lowest prices anywhere in the world, he said. The President argued that Americans had long paid disproportionately high prices. The White House said the agreements now cover about 86% of the branded pharmaceutical market, with further negotiations underway.
