WASHINGTON (dpa-AFX) - President Donald Trump has announced that nine mid-sized pharmaceutical companies have agreed to lower prescription drug prices for Americans in line with the lowest prices paid by other developed nations.
The nine drug makers are Alcon, Astellas Pharma, BeOne Medicines, BridgeBio, CSL, Kyowa Kirin, Sun Pharma, Teva Pharmaceuticals, and UCB.
The agreements bring the total number of pharmaceutical manufacturers with the most-favored-nation deals to 26, covering 89 percent of the U.S. branded drug market.
The Trump Administration had previously signed agreements with Pfizer, Astra Zeneca, EMD Serono, Eli Lilly, Novo Nordisk, Amgen, Bristol Myers Squibb, Boehringer Ingelheim, Genentech, Gilead Sciences, GSK, Merck, Novartis, Sanofi, Johnson & Johnson, AbbVie and Regeneron.
The agreements reduce prices on drugs that treat numerous costly, chronic, and rare diseases, including hemophilia, Parkinson's disease, macular degeneration, glaucoma, liver disease, skin conditions, and various forms of cancer.
The agreements will provide every State Medicaid program in the country access to MFN drug prices on products made by the nine companies, resulting in billions of dollars in savings for Americans.
The agreements ensure foreign nations can no longer use price controls to freeride on American innovation by guaranteeing MFN prices on all new innovative medicines the nine companies bring to market.
Each of these manufacturers has agreed to fundamentally rebalance international drug pricing by providing MFN pricing to American patients.
The White House said these companies have committed to invest at least $19.6 billion collectively in U.S. manufacturing in the near term. Additionally, as part of the MFN agreements, several companies are donating active pharmaceutical ingredients for key products to the Strategic Active Pharmaceutical Ingredients Reserve (SAPIR) to reduce reliance on foreign nations and ensure the United States has an adequate supply of such products in the event of an emergency.
UCB will contribute 163 tons of levetiracetam, an anticonvulsant used to control and prevent certain types of seizures, to the SAPIR.
Sun Pharma will contribute 71.4 tons of clindamycin and 6.75 tons of doxycycline; both antibiotics to treat bacterial infections.
Teva Pharmaceuticals will contribute 45 metric tons of metronidazole, an antibiotic and antiprotozoal used to treat certain bacterial and parasitic infections, and 4.8 tons of amlodipine, an antihypertensive drug.
Astellas will contribute 25 kg of tacrolimus, an immunosuppressant used to prevent organ rejection in people who have had organ transplants.
Since its February launch, patients have saved more than $700 million on medicines through TrumpRx, including massive discounts on some of the most popular and costly medications used to treat obesity and infertility, according to the White House.
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