United States President Donald Trump has announced an agreement with US drug maker Pfizer to lower the cost of its prescription medication for the Medicaid programme for low-income Americans.

According to the deal, which the Trump administration signed on Tuesday, Pfizer agreed to sell its existing drugs to Medicaid patients at the lowest price offered in other developed nations and also committed to launching new drugs at the same price in the US as in other high-income countries.

Studies have shown that customers in the US pay more than three times as much for brand-name pharmaceuticals as in other wealthy countries.

The company also agreed to participate in a new website the US administration plans to start, called TrumpRx, which will allow people to buy drugs directly from manufactu

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