AbbVie strikes Trump deal on Medicaid pricing, pledges $100 billion US investment
US pharma major AbbVie (NYSE: ABBV) has signed a voluntary agreement with the Trump administration that it says will lower prices in Medicaid while protecting its ability to invest in American drug innovation.
Under the deal, AbbVie is pledging $100 billion in US-based research and development and capital investment, including manufacturing, over the next decade. The company said it will also expand direct-to-patient offerings through TrumpRx for several widely used medicines.
“AbbVie is following President Trump’s call to action by reaching this agreement,” said AbbVie chairman and chief executive Robert Michael. “Thank you to President Trump and his team for their leadership to help deliver cost savings and supporting our efforts to deliver innovative treatments for American patients.”
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Pharmaceutical
| Headless Content Management with Blaze