The Trump administration will announce a new direct-to-consumer drug website called ‘TrumpRx’ that will allow customers to buy drugs at a government-negotiated price, according to the Wall Street Journal.
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Trump and Pfizer (PFE) CEO Albert Bourla will share more details about the new venture later today, said a White House official. Bourla is also expected to announce a plan to lower drug costs for Medicaid patients and a $70 billion domestic production commitment from Pfizer.
Trump Pushes for Lower Drug Prices with Tariffs and MFN Demands
Last week, Trump warned that any foreign-branded or patented pharmaceutical products would face a 100% tariff, unless the producer is building a pharmaceutical plant in the U.S. In July, he penned letters to 17 major pharmaceutical companies, demanding that Medicaid patients receive ‘most-favored-nation’ (MFN) drug prices, or a price that is equal to or lower than the lowest price paid by another country.
“Democrats talked the talk for decades about drug prices, but only President Trump is actually walking the walk,” said White House spokesman Kush Desai.
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