As RedState previously wrote, President Trump and the CEO of Pfizer, Dr. Albert Bourla spoke at a press conference at the White House about striking a new deal on lowering prescription drug prices for Americans. As my colleague Ward Clark wrote in late September, "President Trump announced that Pfizer will be discounting drugs sold on the American market by 50 to 100 percent."
The president added that newer drugs from the pharmaceutical giant would be sold at a reduced rate through his Most Favored Nation policy:
We're also announcing that, moving forward, all new medications introduced by Pfizer to the American market will be sold at the reduced, most-favored-nation cost. So we'll be paying, essentially, what other countries are paying.
READ MORE: Major Win for American Patients in Big, Beautiful Pfizer Agreement
On Friday, a second big name in drug manufacturing agreed to a deal, announcing it at the White House, with AstraZeneca CEO Pascal Soriot standing alongside the president, Secretary Robert F. Kennedy Jr. (Health and Human Services), Administrator Mehmet Oz (Centers for Medicare and Medicaid Services), and Republican Virginia Gov. Glenn Youngkin.
"Today, AstraZeneca — the largest pharmaceutical manufacturer in the UK — is committing to offer Americans major discounts on their vast catalog of prescription drugs and a Most Favored Nations pricing cause," Pres. Trump said, then explained that MFN means "you're going to pay whatever the lowest price is in the world."
He said that Americans would soon be able to seek out the lower priced medications at a new website, TrumpRx.gov:
Trump gave a few examples of expected savings, saying that "One particular drug that's hot, very hot," the reduction would be 654 percent. He added that "on inhalers, COPD, and asthma, as well as certain diabetic medications, they're going to be averaging about 654 percent reduction in price."
He shared that American taxpayers would also be getting a break to the tune of "hundreds of millions of dollars each year," with AstraZeneca promising to reduce the costs of pharmaceuticals to Medicaid patients.
Pres. Trump continued, saying that the company has also agreed to make its products in the United States, and put a down payment of researching new drugs on our shores:
“Furthermore, AstraZeneca will invest $50 billion in the United States over the next five years for research and development of new drugs and to onshore manufacturing facilities across the country," Trump said, "like the new plant that broke ground yesterday in Charlottesville, Virginia.”
The governor of Virginia is tied in with this deal because "AstraZeneca this week broke ground on a new facility in Virginia, an event that was attended by Young and Oz." Youngkin called the deal "a landmark moment" for Americans and how they "can access medicines":
He underlined the fact that, as Pres. Trump said, Americans have been paying many times over what other countries' citizens have for years. "That is just not fair," he said.
Lastly, AstraZeneca CEO Pascal Soriot spoke about Trump's "vision for a healthier America" being the guiding force behind making the deal happen:
This is a developing story. RedState will provide updates as more information becomes available.
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