Trump announces new drug price cuts

US President Donald Trump announced nine new agreements with major pharmaceutical companies to lower prescription drug prices for Americans in line with the lowest prices paid by other developed nations, during an event at the White House in Washington. 

Donald Trump, US President  said "Starting next year, American drug prices will come down fast and furious, and will soon be among the lowest in the developed world. So, in other words, whatever the lowest price for a certain drug, of which these companies make much of it, whatever the lowest price is, that price will come down to that price. So, we will get the lowest price anywhere in the world. If they're lower in England than they are in Germany, we take the England price." 

The details of each deal were not immediately available, but officials said they included agreements to cut cash-pay direct-to-consumer prices of select drugs sold potentially through the TrumpRx.gov website. In return, companies can receive a three-year exemption from any tariffs.