“The Big Money Show” panel discusses President Donald Trump’s push for an economic boom by 2026 as inflation cools, wages rise and tariffs raise billions in revenue.
President Donald Trump announced Friday that his administration has signed new agreements with some of the world’s largest drug manufacturers aimed at lowering the cost of prescription drugs for Americans.
From the Roosevelt Room, Trump revealed that nine additional drugmakers have agreed to the administration’s most favored nation pricing initiative, bringing the total to 14 of the world’s 17 largest leading companies.
The agreement reached with the nine companies also includes $150 billion in combined new investment commitments in domestic pharmaceutical manufacturing, research and development.
“For the American people and patients, this represents the greatest victory for patient affordability in the history of American health care,” Trump said. “By far, and every American will benefit.”
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U.S. President Donald Trump announces a deal with Pfizer to lower Medicaid drug prices in the Oval Office of the White House on September 30, 2025 in Washington, DC. (Win McNamee/Getty Images/Getty Images)
Friday’s announcement heralded deals with Amgen, Boehringer Ingelheim, Bristol-Myers Squibb, Genentech, Gilead, GSK, Merck, Novartis and Sanofi – marking a successful agreement between the manufacturers and the Trump administration.
In July, Trump wrote letters to the leaders of the 17 largest drugmakers seeking a deal to keep drug costs for those enrolled in the government’s Medicaid health program below those in other high-income countries.
Several of the current signatories have also agreed to donate active pharmaceutical ingredients to America’s Strategic Active Pharmaceutical Ingredients Reserve (SAPIR SAPIR) to assist in the country’s disaster response to potential pandemics, natural disasters or national security emergencies.
“It very much is what it is: national security,” Trump said. “You can’t pay thirteen, fourteen times more than other countries and think you have security.”
Previously, Pfizer, AstraZeneca and Serrano, Novo Nordisk and Lilly had struck deals with the Trump administration to keep drug prices manageable for low-income Americans.
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The logo of Swiss drugmaker Novartis is seen at the company’s new cell and gene therapy factory in Stein, Switzerland, November 28, 2019. (REUTERS/Arnd Wiegmann/File Photo / Reuters)
Trump has routinely made prescription drug costs a cornerstone of his administration’s efforts, often focusing on the disparity between prices in the U.S. and other wealthy countries, with analysts noting that Medicaid — which accounts for 10% of the nation’s drug spending — already benefits from significant rebates from manufacturers. according to Reuters.
“Every president for a generation has promised to lower drug prices, but they talked about it just a little bit,” Trump said. “I’m the only one of them who ever thought in terms of favorite nations, and that’s what this is. … We are now ‘a most favored nation.'”
“I also want to thank the leaders of all the countries who had to pay a little more so that we were treated fairly. I really do,” he continued. “They knew the alternative wasn’t really an alternative because if they didn’t do it, we would have charged them rates, and the rates would have been much stricter… Once they were aware of the rates, they did it very easily.”
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Health and Human Services Sec. Robert F. Kennedy described the deal as “historic,” noting that his 29-year-old Democratic son called and told him it was “the greatest achievement that could happen to our country.”
“This is something Bernie Sanders has been screaming about for 25 years,” Kennedy said. “[Something] Elizabeth Warren has been calling for it [and former President] Joe Biden promised the American people. [Former] President Obama [and former] President Clinton has all promised to do this for the American people. … Everyone realized how unfair this was. We paid for all the innovation in this country, and the rest of the world got to ride it for free.”
“I’m very grateful to all the CEOs who saw the sense in this, who understood the injustice and the unsustainability of the system, and who put public health, and especially the public health of Americans, above some of their other priorities. They all came to the table,” he added. “I can tell you that by the end of this term… Americans will pay the lowest price in the world for 95% of medicines… No one has done anything to make affordability greater than this.”
Trump also announced the government’s new website, TrumpRX.govwill launch early next year in an effort to lower prescription drug prices for Americans. A message on the site currently reads: “Coming soon. January 2026.”
