Pfizer strikes deal with the White House to lower drug prices

Agreement Overview - Pfizer reached an agreement with the White House to lower drug costs for Americans in exchange for not facing tariffs for the next three years, provided they increase their manufacturing in the US [2] - The agreement is a result of the most favored nation drug pricing order established earlier this year [2] - President Trump expects deals with other companies in the forthcoming several weeks [6] Pricing and Savings - Fizer will offer countless prescription medications at major discounts in the United States [2] - The majority of Fizer's primary care drugs and some select specialty brands will be offered with a 50% savings rate, with some savings on select drugs as high as 85% [5] - Consumers can expect these lower drug prices to kick in early next year [7] Trump RX Portal - A new government website called Trumprx gov is being developed to allow consumers to find the lowest price for drugs and then be redirected to the manufacturer to buy directly [5][8][9] - The aim is to launch the website in early 2026 [8] - The government is not getting into the business of drug distribution [9] Financial Implications - Negotiations have been fierce as company's goal is to create shareholder value and wealth, and lowering drug prices doesn't exactly go towards that [7] - As new drugs are launched in the US, they are expected to be launched at the lowest possible price with drugs launched in other countries at higher prices [7] - A portion of the profits that these drug makers earn from sales overseas will be given back to US patients, likely through the program of Medicare [7]