President Donald Trump will announce on Tuesday that Pfizer will cut prices on several of its medications in the United States, according to a White House official.
Alongside this move, the White House plans to launch a new direct-to-consumer website called TrumpRx, giving Americans the option to buy Pfizer drugs directly online.
Pfizer, based in New York, is also expected to reveal a $70 billion investment in research, development, and domestic manufacturing. This major push highlights the company’s commitment to innovation while addressing rising concerns over drug prices.
Back in July, President Trump sent letters to 17 of the world’s largest pharmaceutical companies, urging them to lower drug costs to match international prices. He referred to this policy as a “most favored nation” pricing strategy. The companies were asked to make binding commitments by September 29.
Pfizer is now the first company expected to move forward with a deal. While a spokesperson has not yet commented, officials confirm that negotiations have been ongoing at the highest levels.
According to Health Secretary Robert F. Kennedy Jr., the U.S. has held direct talks with pharmaceutical companies. He noted that Commerce Secretary Howard Lutnick used the possibility of industry tariffs as extra leverage in these negotiations.
Earlier in May, President Trump signed an executive order demanding that drugmakers cut medicine costs in the U.S. to match global levels. He warned that if companies did not comply, the government could use new rules or import cheaper medicines from abroad.
Currently, American patients pay some of the highest drug prices in the world—often nearly three times more than patients in other developed countries. The pharmaceutical industry argues that sharp cuts could hurt innovation, but the White House continues to press for reforms aimed at lowering costs for consumers.
