Pfizer strikes deal with the White House to lower drug prices

Core Points - Pfizer has reached an agreement with the White House to lower drug prices for Americans in exchange for a three-year tariff exemption, contingent on increasing U.S. manufacturing [2][6] - The deal will allow Pfizer to offer many prescription medications at significant discounts, with some drugs seeing price reductions of up to 85% [5][7] - The initiative aims to ensure that U.S. drug prices are aligned with the lowest prices in other developed countries, reversing a long-standing disparity where U.S. prices were often much higher [3][5] Company Impact - Pfizer's CEO, Albert Bourla, emphasized that this agreement marks a turning point in addressing unfair pricing practices in the pharmaceutical industry [3] - The company is expected to launch new drugs in the U.S. at the lowest possible prices, while maintaining higher prices in other countries [7] - Pfizer will also sell discounted medications through a new government website, Trumprx.gov, which is set to launch in early 2026 [8][9] Consumer Benefits - American patients are identified as the primary beneficiaries of this deal, as they will experience significant savings on medications [4] - The Trumprx portal will allow consumers to find the lowest prices for drugs and purchase directly from manufacturers [9] - Lower drug prices are anticipated to take effect early next year, enhancing access to affordable medications for U.S. consumers [7]