Trump announces 'TrumpRx' drug-buying website alongside Pfizer CEO

Core Points - The White House announced the launch of a direct-to-consumer website called "TrumpRx" for purchasing discounted prescription drugs directly from the federal government [1] - The initiative aims to increase transparency, with prices reportedly being 80% lower than current prices [1] - The website is expected to eliminate the need for consumers to purchase drugs from Canada, allowing them to buy from home [1] Group 1: Market Impact - Health economist Craig Garthwaite expressed skepticism about the potential market impact, noting that most consumers require insurance for expensive drugs and that prices may not be lower than net prices or out-of-pocket payments [2] - The White House has reached an agreement with Pfizer to sell its drugs to Medicaid at lower prices, indicating a direct collaboration with major pharmaceutical companies [2] Group 2: Regulatory Actions - In May, an executive order was signed by President Trump to pressure pharmaceutical companies to offer drugs at "Most Favored Nation status," which is based on the lowest price available in comparable countries [3] - Following the executive order, Trump sent letters to Pfizer's CEO and other major drugmakers, demanding price reductions within a 60-day compliance period [3]