Leading drugmakers, including AbbVie (ABBV), Bristol Myers Squibb (BMY), Gilead (GILD), and Merck (MRK), will be among the latest to announce agreements with the Trump administration to cut prices of certain prescription drugs in the U.S., Reuters reported on Friday.
Citing people familiar with the situation, the news agency reported that agreements are expected as early as Friday afternoon.
Bloomberg News reported on Wednesday that European pharmaceutical giants Novartis (NVS) and Roche (RHHBY) are also expected to announce drug pricing deals, and Reuters had previously reported that AbbVie (ABBV) could also join them.
Previously, companies including Pfizer (PFE), Eli Lilly (LLY), Novo Nordisk (NVO), and AstraZeneca (AZN) signed pricing deals with the U.S. government inconsistent with President Donald Trump’s most-favored-nation drug pricing policy.
In July, Trump sent letters to 17 leading pharmaceutical companies, including the above, demanding that they take steps to lower drug prices within 60 days in line with the MFN policy, which seeks to lower U.S. prices of brand-name drugs to the level of those in other developed nations.