U.S. President Donald Trump is preparing to announce a new agreement with a major pharmaceutical company, reportedly Pfizer, to lower drug prices for Medicaid recipients.

US President Donald Trump is preparing to announce a new agreement with a major pharmaceutical company, reportedly Pfizer, to lower drug prices for Medicaid recipients. According to sources and media reports, the deal will see Pfizer voluntarily sell its medications at reduced prices through Medicaid, and may include a three-year reprieve on tariffs for products manufactured in the United States.

Additionally, there are reports of a new initiative called 'Trump Rx,' which would allow consumers to pay cash for select drugs directly from a government website. While Pfizer is expected to participate, it remains unclear if other companies will join or how the program will affect those already covered by insurance such as Medicare or Medicaid. The White House has confirmed the announcement will focus on pharmaceutical pricing, but has not officially named the company involved.

Trump to announce drug-pricing deal with Pfizer

You may have noticed some of the pharmaceutical names have moved up sharply in the last few minutes. We've got some breaking news out of Washington on drug pricing. Eamon Javers has the details, perhaps filling us in on why we've seen this move. Eamon. Yeah, David, it is pharmaceutical-related, and we don't have all the details right now. We're trying to solve a mystery in real time here, which is that the president has an event on his calendar at 11 a.m. just scheduled as an announcement, and the question is, what is that announcement? Well, our Angelica Peebles at CNBC has some reporting here from a source familiar saying that this announcement is pharmaceutical-related. It's discounted prices in Medicaid, a three-year reprieve on tariffs, as long as the products are being built in the United States, and additional agreements with the United States. Now, The Washington Post is reporting just within the past couple of minutes that the president is going to announce an agreement with pharmaceutical giant Pfizer to voluntarily sell its medications through Medicaid at lower prices. And the White House confirms for me, guys, that this announcement will be pharmaceutical-related. It is an individual company that is cutting a deal with the White House, and the White House, as of this moment, not confirming the name to me of that company, but The Washington Post reporting that it's Pfizer, and there you see the stock moving on that news from The Post. So we're going to work on some more details of what exactly is in this proposal, but for now what we can tell you is that it's related to pharmaceutical pricing. It's an individual company that's cutting a deal with the White House to lower prices across the board. And as you guys know, the president has made pharmaceutical pricing one of the goals of his presidency, to lower drug prices across the board. So this would be seen by the White House as a significant win, guys. Back over to you. A little more color. Our journal also has — it's going to be called Trump Rx, which would allow people to pay cash for certain drugs directly from a government website. And just to follow our reporting there, Pfizer plans to be a part of it, though it's unclear whether other companies will be a part of it and what it means for people who are already on insurance, like Medicare or Medicaid. The Trump Rx piece is — I mean, obviously it's a significant branding initiative. We don't have that confirmed. We're going to work on confirming that. No indication that that's wrong from that publication, but we're working it through with our sources as best we can in real time here. Eamon, what time are we expecting to hear from the president on this? 11 o'clock is when the event is on his calendar. Now, he's over at Quantico, Virginia, making a speech related to the military right now. So at some point, he will be back here at the White House, and we'll get a better read on exactly when we'll see that announcement. But if it is Pfizer, you know, you would imagine you'd see the CEO here at the White House, along with some — maybe some industry folks as well, and a number of people by the president's side when he does make that announcement. OK. We'll look for it, Eamon. Thank you very much. Good luck.

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