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Pfizer agrees to lower prescription drug costs for Medicaid in a deal with Trump
['Associated Press']
News – Chico Enterprise-Record
By TOM MURPHY and MICHELLE L. PRICEWASHINGTON (AP) — Drugmaker Pfizer has agreed to lower drug costs and invest $70 billion in U.S. manufacturing under a deal struck with the Trump administration, President Donald Trump said Tuesday.
The announcement, which Trump made with Pfizer CEO Albert Bourla at the White House, came as the Republican president has for months sought to lower drug costs.
Trump has been talking for months about the need to lower drug prices.
He issued an executive order in May giving drugmakers 30 days to electively lower prices or face new limits on what the government will pay.
On Thursday, Trump announced a move that could raise future drug prices: 100% import taxes on branded drugs starting Wednesday.