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AstraZeneca secures a three-year tariff break after striking a landmark U.S. deal to cut drug prices and expand its domestic manufacturing.
Following AstraZeneca PLC's (LSE:AZN, NASDAQ:AZN) agreement with the US government on 'most favoured nation' drug pricing at the end of last week, analysts said the discounts were not as big as some were expecting but will still hit profits. The White House announced the deal on Friday, after markets closed in New York, with confirmation of the deal shared with investors on Monday.
AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) has become the second giant drugmaker to announce a drug pricing deal with the US government, after Pfizer's deal two weeks ago. Pascal Soriot, the CEO of the Anglo-Swedish pharmaceutical group, met President Donald Trump on Friday to confirm a range of measures, including offering discounts of up to 80% on its medicines under prescriptions for chronic diseases and making its drugs available on the TrumpRx.gov direct purchasing platform.
AstraZeneca CEO Pascal Soriot looked relaxed standing in the Oval Office on Friday as U.S. President Donald Trump unveiled a medicine deal that will lower drug prices for millions of Americans.
President Trump details a new drug-pricing deal with AstraZeneca, and Fox News political analyst Lisa Boothe reacts on 'The Evening Edit.'
The Trump administration and AstraZeneca announced Friday they have reached an agreement for the U.K.-based pharmaceutical giant to cut drug prices in the U.S. The deal with AstraZeneca follows a similar pact with U.S. drugmaker Pfizer, which was announced late last month.
CNBC's Bertha Coombs details the Trump administration and AstraZeneca's agreement for the U.K.-based pharmaceutical giant to cut drug prices in the United States.
The agreement follows last week's deal with Pfizer.
AstraZeneca PLC looks poised to announce a deal with U.S. President Donald Trump that's focused on lowering drug prices, in a move that would see the British drugmaker follow in the footsteps of Pfizer Inc.
The Trump administration and AstraZeneca have reached an agreement for the U.K.-based pharmaceutical giant to cut drug prices in the U.S., MSNBC reported. President Donald Trump has already agreed to a similar pact with Pfizer, which will sell discounted drugs to Medicaid patients through a website called TrumpRx.gov.
AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) said its experimental drug baxdrostat met the main target in a late-stage study for patients with resistant hypertension. Specifically, it showed a “statistically significant and highly clinically meaningful” reduction in blood pressure compared with a placebo.