Core Insights - Pharmaceutical companies are expected to submit plans to the Trump administration for voluntarily lowering drug prices, but concrete commitments have not yet been made [1][2] - There is a consensus among some CEOs that other countries should pay more for drugs, but actual price increases in those markets have not been observed [2] - Bristol Myers Squibb has made its psoriasis drug available at over 80% below the list price, reflecting efforts to bring drugs directly to patients at lower costs [3][4] Industry Developments - The industry's main lobbying group plans to create a direct-to-consumer (DTC) website to aggregate lower-priced medicines from member companies [4] - The Trump administration is focused on a "most favored nations" approach, with a proposed drug pricing pilot program currently under review by the White House [4] - Companies are attempting to shift the blame for high drug prices to middlemen, indicating a reluctance to lower their own prices directly [5][7] Pricing Strategies - The establishment of a DTC website is seen as a strategy to offer drugs directly to consumers, potentially reducing prices significantly [6] - Despite the potential for lower prices, the out-of-pocket cost for some drugs remains high, exemplified by a drug costing $16,000 per year [6] - Companies argue that insurance coverage needs to be improved to alleviate the financial burden on consumers, suggesting that the current system is flawed [7]