Washington, April 24: U.S. President Donald Trump has announced significant agreements with major pharmaceutical companies aimed at reducing prescription drug prices, calling it “the largest reduction in drug prices in our country’s history.”
Speaking at the White House, Trump revealed that one of the leading companies, Regeneron, has agreed to provide medications at “Most Favored Nation” prices. He stated, “Prices will drop to levels never seen before.”
He emphasized that with this announcement, the 17 largest pharmaceutical companies, which represent 80 percent of the branded drug market, have agreed to sell their medications to American patients at the lowest prices available worldwide.
Trump argued that Americans have long been burdened by excessive costs. He remarked, “For decades, Americans have been forced to pay the highest prices for prescription drugs in the world.”
Health and Human Services Secretary Robert F. Kennedy Jr. supported this move, describing it as action against long-standing “looting.” He noted that the United States, which comprises “4.2 percent of the world’s population,” has been the source of “75 percent of the pharmaceutical industry’s profits.”
Mehmet Oz, Administrator of the Centers for Medicare and Medicaid Services, stated that the primary goal of this policy is to make medications more affordable. He mentioned, “One in three Americans often returns without their medication because they cannot afford it.”
The administration also highlighted specific price reductions, including a cholesterol medication dropping from “$537 to $225” and a weight-loss drug decreasing from “$1,350 per month to $199 per month.”
Regeneron CEO Leonard Schleifer expressed support for global pricing balance efforts, stating, “We were not forced here. We are happy to be here because this is a significant step towards lowering drug prices.”
The company also announced a gene therapy for a rare type of deafness, which will be provided free of charge to eligible children for a limited time. George Yancopoulos described this treatment as “the first of its kind gene therapy… allowing Travis to hear his mother’s voice.”
Sierra Smith, whose two-year-old son received the therapy, called the outcome “incredibly amazing,” adding, “Now he can hear… it’s life-changing.”
Commerce Secretary Howard Lutnick noted that this policy is also linked to domestic manufacturing, stating, “This means $448 billion in drug manufacturing will come to America.”
The White House indicated that these agreements now cover nearly 86 percent of the branded pharmaceutical market, with negotiations still ongoing.
Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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