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Johnson & Johnson
said on Thursday that it has reached an agreement with U.S. President Donald Trump’s administration to cut drug prices for Americans in exchange for exemptions from U.S. tariffs.
The Trump administration in December reached agreements with nine other major pharmaceutical companies to cut the prices of their medicines for the government’s Medicaid program and for cash-paying consumers, aiming to bring U.S. drug costs in line with those in other wealthy countries.
U.S. patients currently pay far more for prescription medicines, often nearly three times more than in other developed nations, and Trump has been pressuring drugmakers to lower prices to levels paid abroad.
