Name: Watch: Trump Announces Deal With Pfizer to Lower Drug Prices
Uploaded: 2025-09-30T17:50:00Z
Duration: 2 min 37 s
Description: President Trump said he expects to reach pricing deals with more drug companies following the Pfizer announcement.

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"We're trying to build an infrastructure at a pace the world has never seen before," Said Mike Intrator, CEO of CoreWeave. This interview was recorded on Jan. 21, 2026, at the World Economic Forum meeting in Davos, Switzerland.

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President Trump said he expects to reach pricing deals with more drug companies following the Pfizer announcement. Photo: Win McNamee/Getty Images

https://m.wsj.net/video/20250930/1b4ced72-4112-4822-ba38-1d093a300f13/1/hls/manifest-hd-wifi.m3u8

President Trump said he expects to reach pricing deals with more drug companies following the Pfizer announcement.

Watch: Trump Announces Deal With Pfizer to Lower Drug Prices

Today, Pfizer is committing to offer all of their prescription medications to Medicaid, and it will be at the most favored nation's prices. It's gonna have a huge impact on bringing Medicaid costs down like nothing else. This is a critical step forward to our work and to improve healthcare and hardworking low income Americans, especially low income Americans will be helped so greatly. In addition, Pfizer has agreed to provide some of their most popular current medications to all consumers at heavily discounted prices of anywhere between 50 and even a hundred percent. And that's off, that's off the price. And in some cases even more than that, these drugs will be available for direct purchase online at a website operated by the federal government. We're also announcing that moving forward, all new medications introduced by Pfizer to the American market will be sold at the reduced most favored nation costs. So we'll be paying essentially what other countries are paying who have been much lower, much, much lower for many, many years. Furthermore, Pfizer will invest $70 billion to reshore domestic manufacturing facilities. In other words, they're gonna bring a lot of their facilities to make their drugs and make what they make their product. They're gonna make it in the United States. I appreciate that $70 billion investment.

By this agreement that we did, we commit to on source the production of our medicines that are consumed in the US and are made outside the US. And for that we are already to unleash our investment portfolio in this country. And the president graciously gave us a three years grace period that we will not be subject to the tariffs as long as of course, we move the products here.

Reporter: Where are the other companies other than Pfizer? Are you expecting them to come later?

They're all here, they're all with us and I was honored to have Albert be the first. He's done a fantastic job. And they're all coming in over the next week. We're making deals with all of them. And I said if we don't make a deal, then we're gonna tariff them an extra five, six, seven, 8%. Whatever the difference is, it will take it that way. So we took away the advantage by the fact that we have tariffs. We took away the advantage that they would have of just saying no, and we couldn't do anything about it. If they do that, what we do is we put a tariff on them of an equivalent amount and we take it that way. And nobody wants to play that game.

Reporter: When will prices come down, Mr. President. When can Americans--

They're gonna start coming down. Drug prices? Well, they'll be starting immediately.