Trump signs agreements with nine more drugmakers to cut prices

President Donald Trump said nine more pharmaceutical companies have agreed to offer discounts, expanding an administration campaign that pressures drugmakers to lower consumer prices.

The companies named by the White House are Alcon, Astellas Pharma, BeOne Medicines, BridgeBio, CSL, Kyowa Kirin, Sun Pharma, Teva Pharmaceuticals and UCB. The administration described them as midsize firms. It said their medicines will become available through every state Medicaid program, producing billions of dollars in savings.

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In total, these agreements are projected to save Americans more than $600 billion over a very short period of time.

The agreements cover treatments for Parkinson’s disease, macular degeneration, glaucoma, liver disease and other illnesses, according to the White House. The companies also committed to spending $19.6 billion on manufacturing, the administration said.

Trump said the new deals bring the total number of participating companies to 26, accounting for 90% of the U.S. domestic pharmaceutical market. “They have no choice,” he said.

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With today's announcement, we now have 26 companies representing 90% of the domestic pharmaceutical market, and the other 10% are also coming in.

The effort follows letters Trump sent last July to 17 leading drugmakers asking them voluntarily to reduce prescription prices. Earlier this year, the administration launched TrumpRx, a website offering discounts on brand-name medicines, including GLP-1 drugs, inhalers and antibiotics.

Trump said the agreements are projected to save Americans more than $600 billion over a short period. The administration’s push has centered on voluntary company commitments and expanded access through Medicaid.

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They have no choice.