President Trump of USA announced the creation of “TrumpRx”, a direct-to-consumer website where customers can buy drugs directly, as well as an agreement with pharmaceutical manufacturer Pfizer for significant reductions for drug prices that will be offered on the new platform.
He announced plans for this website in a Oval Office Perch alongside health and human services secretary Robert F Kennedy Jr. and Pfizer CEO Dr. Albert Bourla.
Drugs from Pfizer will be available on the TrumpRx platform, the pharmaceutical company said in a statement.
Pfizer also voluntarily agreed to reduce drug prices in the US, putting prices in line with those paid in other developed markets , the company said.
The company agreed to a deal with Trump administration in which it would not face pharmaceutical tariffs, so long as it agreed to invest in manufacturing in the USA
The company also said it would invest an additional $70billion in research, development and capital projects in the USA.
TRUMP said other pharmaceutical companies were coming to negotiate similar deals “over the next week.”
Plans for the new website were first reported by Blomberg earlier in September, which noted the plan was still under development at the time.
A Pfizer spokesperson says the company will be offering mostly primary care and few specialty drugs on the TrumpRx site. These include Duavee, to treat menopause symptoms, which will be offered at around an 85% discount. Other Pfizer medicine will include: Eucrisa, for a topic dermatitis, at $162, Toviaz for overactive bladder at $42 and autoimmune drugs Abrilada and Xelijanz, which will be significant discounts.
History
In July trump sent letters to 17 major drug manufacturers demanding price reductions in line with an executive order he signed in May. The order demanded “most favored pricing” for prescription drugs. Trump in a July statement vowed to end the freeriding by European Community and other developed countries on American innovations.”.
Trump tried the same strategy to lower Medicare drug prices with an executive other during his first term in office, but the effort was blocked by federal judge. He directed Kennedy to create the “direct-to-consumer purchasing programs” to purchase drugs at newly negotiated discounts
