Pfizer Lowering Prescription Drug Costs For Medicaid

Drugmaker Pfizer has agreed to lower drug costs and invest $70 billion in U.S. manufacturing under a deal struck with President Donald Trump's administration. Trump made the announcement with Pfizer CEO Albert Bourla at the White House on Tuesday. The announcement comes as the Republican president has for months sought to lower drug costs. Trump says under the agreement New York-based Pfizer will charge most-favored-nation pricing to Medicaid and guarantee that pricing on newly launched drugs. That involves matching the lowest price offered in other developed nations.