President Donald Trump on Tuesday announced a major deal with drugmaker Pfizer to lower prescription drug prices for Americans.
The announcement came alongside the upcoming launch of a new government-run website, TrumpRx, which will let US consumers find discounted medications online.
According to CBS News, Speaking from the Oval Office, President Trump said Pfizer has agreed to sell many of its drugs at 50% off or more, with lower prices starting immediately.
These discounts will also apply to new drugs going forward. "We're done paying the highest prices in the world while other countries pay less," Trump said.
The president said the move was a direct result of his "Most Favored Nation" executive order issued earlier this year, which calls on pharmaceutical companies to match the lowest drug prices found in peer nations like Canada and Germany.
Pfizer CEO Albert Bourla, who stood beside the president, said the company made the decision quickly after Trump threatened to place 100% tariffs on imported drugs.
"The president is absolutely right," Bourla said. "Tariffs motivated our decision. We'll be moving production to the US and lowering prices here."
Pfizer will receive a three-year waiver from those tariffs as long as it keeps production in the United States.
White House to unveil ‘TrumpRX’ drug-buying website, announce Pfizer lowering prices in US https://t.co/D0NZCmNKIb pic.twitter.com/s450JJNNCj
— New York Post (@nypost) September 30, 2025
TrumpRx Launching 2026 with Drug Discounts
Under the new agreement, Pfizer will also offer "Most Favored Nation" pricing to Medicaid, saving taxpayer dollars.
Trump said this could help Americans and the government save "hundreds of millions of dollars a year."
The TrumpRx website, expected to launch in early 2026, will not sell medications directly, CNN reported.
Instead, users will search for their prescriptions and be redirected to drug manufacturers' discount programs.
Some medications may still be expensive, depending on insurance and availability.
Bourla called the deal "historic," and said it would fix an "unfair situation" where Americans have long paid more than patients in other wealthy nations.
Trump agreed, saying, "Americans have been subsidizing the rest of the world's drug prices for decades."
Other drug companies may soon follow Pfizer's lead. Dr. Mehmet Oz, who now oversees Medicare and Medicaid, said more announcements are expected in the fall.
While critics say Trump's plans may not lower prices for everyone, especially those using insurance, the president insists this is a major step. "We are doing more to cut drug prices than anyone in Washington," he said.
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