President Donald Trump announced nine new agreements with major pharmaceutical companies aimed at lowering prescription drug prices for Americans. The White House said the agreements will ensure that U.S. patients pay prices in line with the lowest levels charged in other developed nations, known as the most-favored-nation (MFN) price.
The nine manufacturers participating in the initiative are Amgen, Bristol Myers Squibb, Boehringer Ingelheim, Genentech, Gilead Sciences,GSK, Merck, Novartis, and Sanofi. The White House said the agreements cover medicines used to treat a wide range of chronic and costly conditions, including type 2 diabetes, rheumatoid arthritis, multiple sclerosis, asthma, chronic obstructive pulmonary disease (COPD), hepatitis B and C, HIV, and several cancers.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.