President Donald Trump said Friday that Americans will soon see lower prescription drug prices following agreements reached between his administration and nine major pharmaceutical companies. Trump announced the deals during a White House event attended by executives from what he described as nine of the world’s largest drug manufacturers. The president framed the announcement as a major victory for American consumers, arguing that the agreements represent a fundamental shift in how prescription drugs are priced in the United States. According to Trump, the deals address long-standing disparities that have caused Americans to pay significantly more for medications than patients in other countries. He said the agreements were the result of sustained pressure from his administration and reflected a broader effort to reform what he has repeatedly described as a broken pharmaceutical pricing system.

Trump said the companies agreed to offer several flagship medications to U.S. consumers at discounted “most favored nation” prices, a concept reported by Mediaite. Under this pricing model, the cost of certain prescription drugs in the United States would be tied directly to the lowest price paid for the same medications anywhere else in the world. “In other words, whatever the drug sells for in the world, whatever the lowest number is, we will match that price,” Trump said during his remarks. He argued that this approach would immediately reduce prices for many commonly used drugs and prevent pharmaceutical companies from charging Americans significantly higher rates simply because of the size and profitability of the U.S. market. Trump presented the policy as a matter of fairness, saying Americans should not be treated differently from patients in other developed nations.

The president said Americans have been paying prescription drug prices that are sometimes ten times higher than those charged in other countries for the same medications. He added that his administration has already announced similar price reductions in recent months, including for popular weight loss and diabetes drugs such as Ozempic, which have become increasingly expensive and widely used. According to Trump, the newly discounted drugs covered by the agreements include treatments for chronic conditions such as diabetes, asthma, and blood clotting disorders—conditions that affect millions of Americans and contribute heavily to overall health care spending. He said negotiations with the pharmaceutical companies were difficult and, at times, contentious, but claimed that the companies ultimately acknowledged that their pricing practices toward American consumers were unfair and unsustainable.

Bloomberg reported that the administration reached the agreements in exchange for a three-year reprieve from potential tariffs on pharmaceutical products, suggesting that trade policy played a role in securing the deals. The White House, however, did not immediately provide detailed information on how the pricing changes would be implemented or when consumers would begin to see lower prices at pharmacies. Despite the lack of specifics, Trump insisted that the agreements would have a meaningful and lasting impact. He said Americans have effectively been subsidizing lower drug prices in other countries for years and declared that this practice would end. “We are not doing it anymore,” Trump said, describing the agreements as the most significant development related to prescription drugs and drug purchasing in U.S. history.

Trump said the changes would have a major effect on overall health care costs, noting that prescription drugs account for a substantial share of health care spending in the United States. During the event, he turned to Dr. Mehmet Oz, the administrator of the Centers for Medicare and Medicaid Services, while discussing how the savings from lower drug prices should be distributed. Trump emphasized that his administration wants consumers to benefit directly rather than allowing insurance companies to absorb the savings. He said the White House would continue working on policies aimed at reducing out-of-pocket costs, particularly for individuals who purchase their own health insurance. Trump accused Democrats of being influenced by insurance companies that profit from the current system and argued that past reforms failed because insurers captured much of the financial benefit instead of passing it on to patients.

The announcement comes as Trump has made prescription drug pricing a central focus of his broader health care agenda. His administration has previously pursued policies aimed at tying U.S. drug prices to international benchmarks, arguing that Americans should not pay more than patients in other developed nations for the same medications. The pharmaceutical industry has historically opposed such measures, warning that price controls could reduce investment in research and development, but the administration has countered that innovation can continue without placing an excessive financial burden on consumers. It remains unclear how the agreements will affect future drug innovation or pricing negotiations, though the White House has indicated that additional announcements related to health care costs may follow. Separately, Trump recently signed five Congressional Review Act resolutions into law on Dec. 11, bringing his total for 2025 to 22—the most signed by any president in a single year since the law took effect in 1996—highlighting an aggressive approach to reshaping federal policy across multiple areas.