US EditionAbbVie to cut drug prices, pledges $100 billion for research
AbbVie commits $100 billion in U.S. research and manufacturing in exchange for tariff exemption and to lower drug prices under Trump administration's Most Favored Nation pricing plan.
- On Monday, the Trump administration finalized a Most Favored Nation pricing deal with AbbVie to cut costs of certain medicines, announcing a voluntary pact to advance access and affordability.
- President Donald Trump has promoted the Most Favored Nation initiative and a TrumpRx online platform to push drugmakers to sell cheaper drugs and avoid tariffs through U.S. manufacturing commitments.
- Under the pact, AbbVie will offer drugs to Medicaid and sell some directly at Most Favored Nation or deep-discounted prices, expanding TrumpRx offerings to include HUMIRA, ALPHAGAN, COMBIGAN, and SYNTHROID.
- $100 billion in commitments will include U.S. research, development and capital investments over the next decade, and AbbVie will receive a three-year exemption from tariffs and relief from future pricing mandates.
- Despite the announcement, terms confidential limit scrutiny as observers say the deals cover few drugs and the impact on Americans' budgets and Medicaid remains unclear.
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The pharmaceutical company stated that it reached an agreement with the Trump administration to reduce Medicaid prices and inject resources into research and development in the U.S.
Chicago Tribune
One News PageAbbVie reaches deal with Trump administration on drug prices in exchange for tariff relief
North Chicago-based AbbVie has become the latest drugmaker to reach a deal with the Trump administration on drug prices in exchange for being exempted from tariffs and future price mandates, the company announced Monday evening. Under the voluntary agreement, AbbVie will offer “low prices” in Medicaid, a state and federally funded health insurance program for people with low incomes and disabilities, the company said in a news release. AbbVie wi…
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AbbVie to cut drug prices, pledges $100 billion for research
AbbVie said on Monday that it has struck a three-year deal with U.S. President Donald Trump's administration to reduce drug prices, and has pledged $100 billion over the next decade for research and development in the country.
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