AstraZeneca joins string of drugmakers lowering prices in USA

UK pharma major AstraZeneca (LSE: AZN) on Friday announced an agreement with US President Donald Trump’s administration to lower the cost of prescription medicines for American patients while preserving America’s cutting-edge biopharmaceutical innovation.

At a landmark event at the White House, AstraZeneca’s chief executive Sir Pascal Soriot joined President Trump and members of his Administration to confirm the company voluntarily met all requests set out in the President’s July 31 letter calling on drugmakers to lower their US prices. The company agreed to a range of measures which will enable American patients to access medicines at prices that are equalized with those available in wealthy countries.

As part of the agreement, AstraZeneca will provide direct-to-consumer (DTC) sales to eligible patients with prescriptions for chronic diseases at a discount of up to 80% off list prices. AstraZeneca will participate in the TrumpRx.gov direct purchasing platform, which will allow patients to purchase medicines at a reduced cash price from AstraZeneca.