President Trump plans to announce lower prices on drugs from Pfizer and a new direct-to-consumer platform for prescription drugs on Tuesday.

A person familiar with the matter said that the company has agreed to implement measures that would allow Americans to receive comparable drug prices to those in other developed countries, and that Pfizer would launch new medicines at prices “at parity” with those in other countries. Americans will be able to purchase many Pfizer products, including most of its primary care products, at discounts averaging 50% or more of their list price.

In return, there will be a three-year grace period under which Pfizer will not face tariffs, provided it continues to invest in U.S. manufacturing.

The agreement includes the company selling its medications throug

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