Johnson & Johnson Becomes 10th MNC to Cut Drug Prices in Deal with Trump Administration

American patients currently pay much higher prices for prescription drugs than in other developed countries, often almost three times as much. Trump has been pressuring pharmaceutical companies to lower drug prices to international levels.

Johnson & Johnson said in a statement on Thursday: "This joint agreement meets the request made by President Trump to the industry, while providing tariff exemptions for the company's pharmaceutical products."The specific terms of the agreement, including details on drug price adjustments and the types of drugs covered, have not been disclosed.。

Johnson & Johnson stated that the company will participate in the TrumpRx.gov website, allowing American consumers to purchase its medicines at significant discounts. Additionally, the company will provide medicines to the Medicaid program at prices comparable to those in other developed countries.

The Trump administration reached an agreement with nine other major pharmaceutical companies in December last year.

On December 19, Trump announced companies such as Amgen, Boehringer Ingelheim, BMS, Genentech, Gilead, GSK, Merck, Novartis, and Sanofi.AgreeReduce drug prices to align with the lowest prices in other high-income countries.These measures cover government medical assistance programs and self-paying patients, aiming to bring U.S. drug costs closer to international levels.

In these agreements reached in December, all nine U.S. pharmaceutical companies agreed to reduce the prices of Medicaid drugs provided to low-income groups, committing to achieve "significant savings" on widely used medications.

Johnson & Johnson also announced that the company will build two new manufacturing plants in North Carolina and Pennsylvania as part of its $55 billion U.S. investment plan announced last year.

The company said that additional U.S. investment plans might be announced later this year.

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