Trump Administration Announces New Drug Pricing Deals with Biotechs

US President Donald Trump's administration is preparing to announce new deals on drug pricing with midsize biotech companies. According to Bloomberg News, these agreements aim to provide discounts on outpatient drugs for state Medicaid programs.

The discounts will align the prices states pay with what the companies charge in foreign countries, a long-standing demand by Trump to lower medicine prices for US patients. Currently, US patients pay nearly three times more than other developed nations for prescription medicines.

So far, the administration has reached voluntary agreements with 17 pharmaceutical companies, including Pfizer, Eli Lilly, and Amgen. These deals are expected to generate $64.3 billion in federal and state savings over the next decade.