President Donald Trump announced Pfizer will reduce prices on all prescription drugs sold to Medicaid.

Pfizer will introduce all new prescription drugs at a “most favored nation” price, matching the lowest prices paid overseas.

The big picture: The White House plans to launch TrumpRx, a direct-to-consumer website for Americans to buy drugs, with some Pfizer drugs sold directly there. • In July, Trump sent letters to 17 major drugmakers demanding they cut prices to match international rates, requesting binding commitments by September 29. • Pfizer is the first pharmaceutical company to announce an agreement to these terms. • Health Secretary Robert F. Kennedy Jr. revealed ongoing one-on-one talks with drug companies, with Commerce Secretary Howard Lutnick leveraging the potential th

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