00:00It's Benzinga bringing Wall Street to Main Street.
00:02Several large drug makers agreed Friday to lower U.S. drug prices after reaching voluntary deals
00:07with Trump, according to CNBC. Companies including Merck, Bristol-Myers Squibb, Amgen,
00:14Gilead, GSK, Sanofi, Genentech, Berger, Ingelheim, and Novartis secured a three-year grace period
00:21from planned pharmaceutical tariffs in exchange for U.S. manufacturing investment. In July,
00:26Trump urged to cut prices under his revived Most Favored Nation policy,
00:31which aims to raise prices outside the U.S. and end what he calls global freeloading.
00:36The nine drug makers agreed to lower U.S. drug prices by offering existing treatments to Medicaid
00:41at Most Favored Nation prices, guaranteeing pricing for new medicines, and listing top drugs on the
00:47TrumpRx website launching in January. A 2024 Rancorp study found U.S. prescription drug prices
00:54are nearly three times higher than overseas, with branded drugs costing more than four times as much.
00:59For all things money, visit Benzinga.com.
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