U.S. President Donald Trump and nine major drug manufacturers have reached a deal to lower drug prices. The agreement applies to people receiving government assistance and those who buy medicines with cash.
The companies involved will reduce prices on many drugs sold through the Medicaid program. Some medicines will be sold directly to consumers at large discounts. The goal is to bring U.S. drug prices closer to those in other developed countries.
According to officials, prices of some drugs will drop by up to 70 percent compared to current levels. In return, companies will be exempt from additional tariffs and restrictions for three years. New drugs in the U.S. will also not be more expensive than in other wealthy countries.
The government expects the deal to reduce drug costs. The companies said they will invest large amounts in manufacturing and research in the U.S. The agreement is seen as an important step toward lowering drug prices.
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