Trump agreed with nine pharmaceutical companies to lower drug prices
The pharmaceutical companies collaborating to lower prices are: Bristol Myers Squibb, Genentech, Boehringer Ingelheim, Sanofi, Novartis, Merck, Gilead, GSK, and Amgen
The pharmaceutical companies collaborating to lower the price are: Bristol Myers Squibb, Genentech, Boehringer Ingelheim, Sanofi, Novartis, Merck, Gilead, GSK, and Amgen. With these, 14 major pharmaceutical companies have now agreed to price reductions with the Trump administration, EFE reported.
In addition, the nine companies have agreed to invest a total of more than $150 billion in new manufacturing and research and development projects in the U.S. In exchange, they will receive a three-year suspension of certain tariffs on pharmaceutical imports.
The pharmaceutical companies will donate the active pharmaceutical ingredients, or APIs, needed to manufacture certain critical drugs to a national emergency stockpile, which Trump created during his first term, CNN reported.