President Donald Trump has put pen to paper with U.S. and European drugmakers to sell medications for less, CNBC reports.
Merck, Bristol Myers Squibb, Amgen, Gilead, GSK, Sanofi, Roche’s Genentech, privately held Boehringer Ingelheim and Novartis all signed a deal to voluntarily sell their drugs for lower prices.
The agreement allows for a three-year grace period where products won’t be affected by Trump’s planned pharmaceutical tariffs, with the stipulation that the companies invest in U.S. manufacturing.
One of the drugs, Eliquis from Bristol Myers Squibb, will be offered for free to Medicaid. The drug is a blood thinner and a top-prescribed product.
Advertisement
Trump said Johnson & Johnson will sign the same agreement this week.
