AdvertisementAdvertisementPresident Donald Trump signs executive orders in the Oval Office of the White House, Jan. 20, 2025, in Washington. (Photo: AP/Evan Vucci, File)01 Oct 2025 01:02AM (Updated: 01 Oct 2025 01:04AM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST WASHINGTON: President Donald Trump announced on Tuesday (Sep 30) that Pfizer will slash prices on all prescription drugs sold to the Medicaid programme and introduce new medicines at a “most favoured nation” price.The White House will also roll out a direct-to-consumer website, TrumpRx, to allow Americans to buy medicines online. Pfizer will sell some of its drugs directly through the platform.PRESSURE CAMPAIGN ON DRUGMAKERSIn July, Trump sent letters to 17 major pharmaceutical firms, demanding they match US drug prices to lower rates charged abroad. He gave them until Sep 29 to respond with binding commitments.Pfizer is the first company to reach an agreement. A company spokesperson was not immediately available for comment.The administration has held one-on-one talks with companies, Health Secretary Robert F. Kennedy Jr said last month. Commerce Secretary Howard Lutnick has also wielded the threat of tariffs on the drug industry to press firms to accept the pricing plan.Singapore calls on Hamas to accept Trump's Gaza peace planTrump to address rare mass meeting of US military leadersTrump visa curbs push US firms to consider shifting more work to IndiaSource: Reuters/fsSign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST