Nine drugmakers cut deal with Trump administration to slash medication costs

Nine pharmaceutical companies agreed to slash prices on some of their drugs for Medicaid recipients and people who pay with cash as part of a new deal with the Trump administration.

Nine pharmaceutical companies have agreed to slash prices on their flagship drugs for Medicaid recipients and people who buy the medications in cash, rather than through insurance, as part of a new deal with the Trump administration.

The agreement includes prescription drugs for asthma, certain cancers, chronic obstructive pulmonary disease, hepatitis B and C, HIV, multiple sclerosis, rheumatoid arthritis and Type 2 diabetes, the White House said.

It comes as millions of people are expected to face double-digit increases in their health insurance premiums next year, and as more people are walking away from Affordable Care Act coverage or switching to cheaper plans for 2026.

President Donald Trump announced the deal at a Friday news conference, flanked by executives from each of the nine companies: Amgen, Boehringer Ingelheim, Bristol Myers Squibb, Genentech, Gilead Sciences, GSK, Merck, Novartis and Sanofi.

“This represents the greatest victory for patient affordability in the history of American health care by far,” Trump said.