Trump to Unveil Nearly 12 Drug Deals as U.S. Prices Run 3 Times Overseas Levels

3 articles · Updated · CNBC · Aug 31

Nearly a dozen drugmakers are expected to sign voluntary pricing deals with President Donald Trump on Monday, expanding the administration’s push to sell medicines for less in the U.S.
The agreements are expected to tie some outpatient drug prices for state Medicaid programs to what companies charge abroad, while participating companies would avoid Medicare pilot programs mandating similar discounts.
Seventeen pharmaceutical companies — including Pfizer, Eli Lilly and Novo Nordisk — have already reached “most favored nation” deals with the administration since Trump revived the policy by executive order in May 2025.
U.S. prescription drug prices average nearly three times overseas levels, according to Rand, but it remains unclear how much the new Medicaid-focused deals would lower patients’ out-of-pocket costs.
The pricing push comes ahead of the midterm elections and is already reshaping drugmakers’ strategies, from U.S. manufacturing investment to expanded direct-to-consumer sales channels.