Trump signs deals to lower drug prices with 9 companies

'They've agreed to offer many of their flagship drugs, really, all of their flagship drugs, at heavily discounted Most Favored Nations prices,' says US president

By Michael Hernandez

WASHINGTON (AA) - US President Donald Trump announced Friday that he has completed "most favored nation" deals with nine pharmaceutical companies to lower prices on some of their drugs.

The deals with Amgen, Boehringer Ingelheim, Bristol Myers Squibb, Genentech, Gilead, GlaxoSmithKline, Merck, Novartis and Sanofi mark Trump's latest effort to reduce the US' often exorbitant drug prices.

"They've agreed to offer many of their flagship drugs, really, all of their flagship drugs, at heavily discounted Most Favored Nations prices. In other words, whatever the drug sells for in the world, whatever the lowest number is, if it's Germany, if it's in UK, anywhere, we will match that price," Trump said in the Oval Office, flanked by pharmaceutical executives.

"Right now, sometimes it's 10 times higher. We've been laughed at and scoffed at for years, for years," he added.

The affected drugs cover treatments for heart disease, hypertension, HIV and other often fatal diseases. The new pricing will be offered to Americans via the direct-to-consumer TrumpRX.gov website, which is expected to launch in January.

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