() President Donald Trump is set to make an announcement on Friday about lowering U.S. drug prices.
The announcement is said to include a deal with UK-based pharmaceutical company AstraZeneca, as reported by MSNBC, which referenced a White House official. Other media outlets such as The New York Times and The Wall Street Journal also covered the story.
Watch the announcement from the Oval Office in the player above at 5 p.m. Eastern.
This deal, anticipated to be announced from the Oval Office, aims to lower prescription drug costs through a “most favored nation” pricing strategy, which entails aligning with the lowest prices available in other developed countries.
The initiative follows a previous agreement announced last week with U.S. pharmaceutical giant Pfizer. According to Trump, as part of that agreement, Pfizer will apply most-favored-nation pricing to Medicaid and ensure similar pricing for newly launched medications.
Pfizer also agreed to participate in a new website called TrumpRx, which will allow people to buy medications directly from manufacturers.
Back in July, Trump issued letters to 17 of the biggest pharmaceutical firms, including AstraZeneca and Pfizer, urging them to lower drug prices in the U.S. Furthermore, he has threatened to introduce tariffs on imported pharmaceuticals to encourage these companies to negotiate agreements.
will stream the announcement in the player above.
