Pfizer Inc. came to a historic agreement with the Trump Administration that will ensure U.S. patients pay lower prices for their prescription medicines while strengthening America’s role as the global leader in biopharmaceutical innovation.
In response to the four points laid out in the President’s July 31 letter, Pfizer has voluntarily agreed to take steps ensuring that Americans receive drug prices comparable to those in other developed countries, and that newly launched medicines are priced on par with key foreign markets.
The company will also join the direct‑purchase platform TrumpRx.gov, letting U.S. patients buy its medicines at deep discounts. Most of the company’s primary care treatments — and some specialty drugs — will be sold with savings of up to 85%, and on average about 50%.
With this agreement in place, Pfizer can completely focus on offering the next generation of cures, sharpening its aim in the areas where the company’s science, scale and agility can make the biggest difference for patients in areas like oncology, obesity, vaccines, and inflammation and immunology.
Executive Statement
According to Albert Bourla, Chairman and Chief Executive Officer of Pfizer, they are proud to join President Trump at the White House to celebrate this landmark agreement that is a win for American patients, a win for American leadership, and a win for Pfizer. By working closely with the Administration, they are lowering costs for patients and enabling greater investment in the U.S. biopharmaceutical ecosystem by ending the days when American families alone carried the global burden of paying for innovation. This is about putting all patients first and ensuring America remains the world’s leading engine of medical breakthroughs.