Trump to announce US drug pricing deal at White House, MSNBC says it is with AstraZeneca

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By Jarrett Renshaw

WASHINGTON (Reuters) -President Donald Trump is expected to make an announcement on Friday about lowering U.S. drug prices, according to a White House official who declined to provide additional details.

The announcement is with Britain-based AstraZeneca for a “most-favored-nation” drug pricing model aimed at making prescription medicines more affordable, MSNBC reported, citing a White House official. The deal would be similar to a drug pricing pact reached last week with Pfizer.

The deal includes cutting prices for the government’s Medicaid health plan for low-income Americans and discounted prices through the TrumpRx website planned for next year, MSNBC said. AstraZeneca CEO Pascal Soriot will be present at the White House for the announcement, it said.

The White House was not available for comment. AstraZeneca declined to comment.

ANNOUNCEMENT COMES AFTER PFIZER DEAL

The announcement is set to take place at 5 p.m. ET (2100 GMT) in the Oval Office, the White House official had said.

Pfizer agreed to lower prescription drug prices in the Medicaid program for lower-income Americans to what it charges in other developed countries in exchange for tariff relief.

U.S. patients currently pay by far the most for prescription medicines, often nearly three times more than in other developed nations, and Trump has been pressuring drugmakers to lower their prices to what patients pay elsewhere or face stiff tariffs.

Last month, he threatened 100% tariffs, ratcheting up pressure on the pharmaceutical industry to agree to price cuts and shift manufacturing to the U.S., after negotiations broke down earlier this year, lobbyists and executives told Reuters following the Pfizer deal.

Rena Conti, an associate professor at Boston University, said AstraZeneca’s Pfizer‑like deal may spare it tariffs but will not move the needle on the U.S.’s rising health insurance premiums and out‑of‑pocket drug costs.

“It’s good for the companies, and has very uncertain if any benefit for Americans struggling with the affordability of prescription drugs,” Conti said.

ASTRAZENECA ALREADY PLEDGED MANUFACTURING MOVE

Soriot has worked to keep his company close to Washington while pursuing its growth strategy.

AstraZeneca in July announced it will invest $50 billion in U.S. manufacturing and research and development by 2030. It will build its biggest site worldwide in Virginia, and expand facilities in five other U.S. states.

In September, the company announced it will sell its diabetes and asthma drugs direct to cash-paying U.S. patients at a discount of up to 70% off list prices, another move in response to Trump’s pressure campaign.

Soriot this year has played up the company’s U.S. credentials. He described the Anglo-Swedish firm as a “very American company,” highlighting its identity shift toward its largest market. AstraZeneca will list its shares in the United States as well as its current markets in the UK and Europe.

Pfizer was the first major pharmaceutical company to announce a deal with Trump after the president sent letters to 17 leading drugmakers in July telling them to slash prices. He asked them to respond with binding commitments by September 29.

The news of an impending second “most-favored-nation” drug pricing announcement was first reported by CBS News reporter Jennifer Jacobs in a post on X, citing people familiar with the matter.

(Reporting by Jarrett Renshaw in Washington, Maggie Fick in London, Patrick Wingrove in New York and Mariam E Sunny in Bengaluru; Writing by Michael Erman in New Jersey; Editing by Caroline Humer and Bill Berkrot)