Besides, Pfizer will invest $70 billion in research and development and domestic manufacturing and receive a three-year grace period during which its products will not be subject to the pharmaceutical-targeted tariffs.
Pfizer will also be part of the White House‘s new direct-to-consumer website for Americans to buy drugs, called TrumpRx, that will launch in 2026. Pfizer said many of its treatments will be offered at discounts that average 50% through that platform.
Under the deal, New York-based Pfizer will charge most-favored-nation pricing to Medicaid and guarantee that pricing on newly launched drugs, Trump said. That involves matching the lowest price offered in other developed nations.
Trump has said he will impose a 100% tariff on imports of branded or patented pharmaceutical products from October 1, unless a drugmaker is building a manufacturing plant in the U.S.
Pfizer pledged to onshore 100% of the value of all imports that it currently brings into the United States, and in return, the company will receive a three-year grace period during which its products will not be subject to pharmaceutical-targeted tariffs. Pfizer also committed to launching new drugs at the same price in the United States as in other high-income countries.Brand-name drug prices in the United States are three times as high, on average, as those in peer nations. Drug companies already give Medicaid, the health insurance program for lower-income Americans, significantly lower prices than they give American employers and other U.S. government programs.
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