President Donald Trump on Friday plans to announce an agreement with the multinational pharmaceutical company AstraZeneca to lower drug prices in the United States, according to a White House official.
The deal, to be announced from the Oval Office in the afternoon, includes a “most-favored-nation” drug pricing model aimed at making prescriptions more affordable for low-income Americans, including those on Medicaid, which will be available through a federal government website called TrumpRx.gov, the official told MSNBC.
The White House press office declined to give an official comment.
AstraZeneca, which is based in the U.K., has also agreed to invest $50 billion in its drug manufacturing and research and development in the United States, said the official, who added that Pascal Soriot, CEO of AstraZeneca, will meet with Trump Friday afternoon and be present for the Oval Office announcement.
The deal with AstraZeneca comes after New York-based rival Pfizer struck a similar pricing agreement with the Trump administration last month to offer discounted drug prices directly to consumers. During the Pfizer announcement, Trump teased that similar deals with other drug companies were on the way.
Trump revived the “most-favored-nation” policy by executive order in May, which the White House said would sharply slash drug prices and bring them more in line with those paid in other developed nations. Trump attempted a “most-favored-nation” proposal during his first term but was met with intense pushback from the pharmaceutical industry. A federal judge ultimately blocked that attempt, ruling the administration failed to follow proper regulatory procedures to implement the drug pricing model.
The TrumpRx website, which intends to allow AstraZeneca and Pfizer to sell its drugs at discounted prices directly to consumers, will not be live until 2026, according to another senior administration official.
Jake Traylor
Jake Traylor is a White House correspondent for MS NOW.