President Donald Trump is set to announce an agreement with Pfizer (NYSE:PFE) on Tuesday to sell the medications marketed by the New York-based pharma giant through the Medicaid healthcare program at reduced prices, The Washington Post reported.
The agreement is expected to be part of the government’s efforts to lower the U.S. drug prices in line with Trump’s most-favored-nation (MFN) pricing policy, which he revived in May through an executive order.
In July, Trump sent letters to CEOs of 17 leading drugmakers, including Pfizer (NYSE:PFE) CEO Albert Bourla, giving them a 60-day ultimatum to lower prices of their U.S. products in line with the MFN policy. That deadline expired on Monday.
