President Donald Trump announced on Oct. 10 an agreement with AstraZeneca to lower drug prices in the United States.
The U.K.-based pharmaceutical manufacturer will offer most-favored-nation drug pricing on all medications to Medicaid recipients, guaranteeing them the lowest price available in any developed country.
Trump made the announcement alongside AstraZeneca CEO Pascal Soriot and senior administration officials, including Health Secretary Robert F. Kennedy Jr., and Virginia Gov. Glenn Youngkin.
AstraZeneca will also invest $50 billion in drug manufacturing, research, and development in the United States, including a facility in Charlottesville, Virginia, that is expected to provide 3,600 jobs.
“Presidents have promised for years to lower the cost of health care, but my administration is actually the first to do it and do it substantially,” Trump said.
Pfizer became the first to respond, announcing from the White House on Sept. 30 that it had agreed to offer select medications to U.S. customers at an average 50 percent discount and to invest $70 billion in U.S. research, development, and capital projects.
Other pharmaceutical companies have independently announced price reductions on some medications for U.S. patients who self-pay.
The drug will be available to U.S. patients for $239 per month, a 60 percent discount.
Novo Nordisk announced in August that it would sell its diabetes medication Ozempic at $499 per month, a 50 percent discount, to U.S. patients who are uninsured or choose to self-pay.
French drug maker Sanofi announced in September that it would sell any of its insulin products for $35 per month to U.S. patients regardless of their insurance status.
Indianapolis-based Eli Lilly announced in June that it would sell its popular weight-loss drug Zepbound for the discounted price of $499 to cash-paying customers.
Trump hinted on Sept. 30 that a further announcement would be coming from the Indianapolis-based company. A spokesperson for Eli Lilly declined to comment to The Epoch Times on the matter.
