The Trump administration is expected to announce voluntary drug-pricing agreements with midsize biotech companies, requiring discounts for outpatient medicines supplied through Medicaid. The deals would align U.S. prices with those charged abroad, extending efforts that have already involved 17 pharmaceutical firms and could deliver billions of dollars in government savings.

The companies would agree to align prices on outpatient drugs for state Medicaid programs with what they charge in foreign countries

The Trump administration is expected to announce voluntary drug-pricing agreements with midsize biotech companies, requiring discounts for outpatient medicines supplied through…