President Trump to Announce New Drug Pricing Agreements to Make Healthcare More Affordable for Americans
President Donald Trump is set to announce new drug-pricing agreements to make healthcare more affordable for Americans. Bayer, Takeda, CSL, and mid-size biotechs are expected to announce deals. The event on healthcare affordability will take place on Monday. U.S. patients pay significantly more for prescription medicines compared to other developed nations, prompting Trump to pressure drugmakers to lower prices. The administration previously struck agreements with 17 major drugmakers to offer lower prices. Smaller and mid-sized drugmakers have been slow to sign onto drug pricing deals. The government aims to save money through these agreements, but the exact savings are not yet clear. The White House has been promoting efforts to reduce healthcare costs, especially before the upcoming midterm elections. The administration believes that its drug pricing push could save billions in federal and state spending over the next decade.