Will Pfizer’s Discount Drug Deal Lower Prices?
Few political issues are bipartisan these days, but leaders from President Trump to Sen. Bernie Sanders agree that prescription drug prices should come down.
As part of that effort, the White House announced a deal Sept. 30 with major drugmaker Pfizer which includes price cuts for State Medicaid programs. It said the move will bring those prices in line with what other developed nations pay.
The statement also said Pfizer would lower prices when selling directly to U.S. patients, and that the president plans to help consumers get better drug prices via a TrumpRx.gov website.
What does Trump’s Pfizer agreement mean for consumers?
The White House press release said the deal could lower prescription drug costs for "more than 100 million patients are impacted by the diseases Pfizer’s medicines treat."
It mentioned three examples:
- Eucrisa, a topical ointment for eczema
- Xeljanz, an oral medication for rheumatoid arthritis
- Zavzpret, a nasal spray used for migraine treatment
Pfizer said that its planned work with the TrumpRx website would result in price cuts for its primary care treatments and some specialty brands of "as high as 85%, and on average 50%," although it added that "specific terms of the agreement remain confidential."
Details on the timeline for the TrumpRx site weren’t yet available, with the placeholder site saying it was "coming soon."
Americans may have to wait to see how much the Pfizer agreement lowers prices, but the effect on Medicaid recipients could be limited, according to several news reports, since Medicaid beneficiaries already pay low prices for many drugs or receive them free.
How to keep prescriptions affordable
The cost of medications are on the rise. A 2024 ValuePenguin survey found about half of those questioned were paying more for their prescription drugs.
Many health insurance policies include prescription insurance coverage, but there are other ways to save, including prescription discount cards and supplemental pharmacy insurance plans.
If you’re on Medicare, the prescription drug coverage portion of your policy — Part D — costs an average of $65 per month. But which insurer you use has a big impact on the price, so be sure to shop around for the best Medicare Part D companies.
Medicare patients should also be aware that many other drugs are currently undergoing price negotiations, including the blood thinner Eliquis, as well as diabetes and weight-loss drugs like Ozempic, Rybelsus and Wegovy.
As policy changes, getting back to the basics — like choosing the right best health insurance plan for you and taking advantage of pharmacy discounts — can go a long way toward keeping the medicine you need affordable.
Personal Finance Writer
Jamie Cattanach is a personal finance writer and editor with more than a decade of experience. As an NFEC Certified Financial Education Instructor, she is especially passionate making financial literacy accessible to everyone and helping readers save for major life milestones.
Jamie has written content for major FinTech players such as SoFi, Chime and Capitalize, and her work has been featured in CNBC, USA TODAY and TIME.
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