Pfizer is the first big pharmaceutical company to reach an agreement with the Trump administration over most-favored nation drug pricing, a deal that lowers U.S. prices of certain medications and makes them available directly to patients through new online channels. The agreement announced Tuesday also gives Pfizer a grace period before facing potential tariffs on its drugs.

With most-favored nation pricing, the prices of a drug in the U.S. will be matched to the lowest price of the same drug in a comparable developed nation. President Trump revived the policy in a May executive order . In July, he sent letters to CEOs of 17 big pharma companies outlining ways he wanted them to comply with the order. That letter gave companies until Sept. 29 to respond.

In a Tuesday news conference

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