'TrumpRx' website to offer discounted drugs as part of landmark Big Pharma deal

President Donald Trump unveiled a new deal to drastically reform the pharmaceutical industry and reduce drug prices for consumers.

Trump announced that Pfizer would be heavily discounting some of its "most popular medications" and that all new medications introduced in the U.S. markets would be sold at the "reduced Most Favored Nation cost." Trump also revealed that these discounted drugs will be available for purchase on a federally operated "TrumpRx" direct-to-consumer website.

'The big winner of this deal clearly will be the American patient.'

"It's going to have a huge impact on bringing Medicaid costs down, like nothing else. ... Especially, low-income Americans will be helped so greatly," Trump said in the Oval Office Tuesday.

"This is a consequential moment for our country," press secretary Karoline Leavitt said in a post on X. "Drug prices WILL be lower for everyday Americans, thanks to the negotiating prowess and determination of President Donald J. Trump. Democrats have been wanting to do this for decades. The Trump Administration has delivered."

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Trump initially issued an executive order in May that directed drug companies to offer the "most-favored-nation" price for American patients. If they failed to do so, the Department of Health and Human Services would make a rule to implement the policy, and the Food and Drug Administration would revoke approvals for drugs that may be "unsafe, ineffective, or improperly marketed."

Trump also wrote to over a dozen major pharmaceutical CEOs in July demanding that the manufacturers voluntarily extend the "most-favored-nation" pricing to all medicines provided to Medicaid recipients. Trump gave these companies until Monday to formally respond.

"If you refuse to step up, we will deploy every tool in our arsenal to protect American families from continued abusive drug pricing practices," Trump wrote.

So far, Eli Lilly pledged to raise prices in Europe in order to lower costs in the United States. Bristol-Myers Squibb similarly plans to charge the same list price for a new schizophrenia treatment in both the United States and United Kingdom.

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Photo by Win McNamee/Getty Images

"The big winner of this deal clearly will be the American patient. There's no doubt about it," Pfizer CEO Albert Bourla said during the press conference. "They are the ones that will see significant impact in their ability to buy medicines."

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