Trump: Pfizer agreed to heavily discount prices for some current drugs

Core Points - Americans have historically paid significantly higher prices for prescription drugs compared to other countries, with prices being 10 to 15 times higher for the same products [1][2] - Pharmaceutical companies derive 75% of their profits from the U.S. market, despite the U.S. only representing 4% of the global population and 13% of prescription drug consumption [2][3] - An executive order has been signed to combat high drug prices, with Pfizer committing to offer medications to Medicaid at the most favored nation's prices, which is expected to significantly reduce costs [4][5] Pricing and Cost Reductions - Pfizer will provide some medications at discounts ranging from 50% to 100% for consumers, with direct online purchasing available through a federal government-operated website [5][6] - New medications introduced by Pfizer will be sold at reduced prices comparable to those in other countries [6][7] - The initiative aims to end the era of global price gouging, with potential reductions in drug prices reaching up to 1,000% in some cases [5][12] Investment and Manufacturing - Pfizer plans to invest $70 billion to reshore domestic manufacturing facilities, bringing production back to the U.S. [7][8] - This investment will also fund research and development within the United States, aiming to enhance the domestic pharmaceutical industry [8] Trade Practices and Negotiations - The administration is investigating unfair trade practices that have led to American consumers subsidizing global healthcare costs [10] - Other countries are being pressured to align with U.S. pricing strategies, with potential tariffs imposed on those that do not comply [13][14]