Pfizer has agreed to lower prescription drug costs for Medicaid recipients under a deal with the Trump administration. President Trump announced the agreement, which includes "most-favored-nation" pricing and guarantees pricing on new drugs, matching the lowest prices in other developed nations. Pfizer will also participate in a new website, TrumpRx, offering discounts. This deal, which could see lower prices for consumers by 2026, is part of Trump's broader effort to reduce drug costs and boost domestic manufacturing.

Prepared by Christopher Adams and reviewed by editorial team.