Johnson\u00a0&\u00a0Johnson<\/a>\u00a0said on Thursday that it has reached an \u2060agreement with U.S. President Donald Trump’s administration to cut drug prices for Americans in \u200dexchange for \u200dexemptions from U.S. \u200dtariffs.<\/p>\nThe Trump administration in December reached agreements with nine other major pharmaceutical companies to cut the prices of their medicines for \u200cthe \u200cgovernment’s Medicaid program and for cash-paying consumers, \u200baiming to bring U.S. drug costs in line with those in other wealthy countries.<\/p>\n
U.S. patients currently pay far more for prescription medicines, often nearly \u2060three times more than in other developed nations, and Trump has been pressuring drugmakers to lower prices to levels paid abroad.<\/p>\n
“The joint agreement meets the requests laid out by President Trump to the industry and provides the company’s pharmaceutical products an exemption from tariffs,” J&J said in a statement on Thursday.<\/p>\n
Specific terms of the agreement were not disclosed, including details on revised drug prices or which medicines are covered.<\/p>\n
J&J said that it will participate in the TrumpRx.gov website to allow Americans to purchase its drugs \u200dat significantly discounted rates. It will also provide Medicaid access \u200cat prices comparable with those in other developed \u2060countries.<\/p>\n
Under the December deals, all nine U.S. drugmakers agreed to lower prices on most drugs sold \u200dto the Medicaid program for low-income people, promising “massive savings” on widely used medicines.<\/p>\n
J&J also said that it will build two new manufacturing facilities in North Carolina and Pennsylvania as part of its $55 billion U.S. investment plan announced last \u2060year.<\/p>\n
The company said it’s likely \u200cto announce additional U.S. investments later this year.<\/p>\n","protected":false},"excerpt":{"rendered":"Johnson & Johnson said on Thursday that it has reached an agreement with the U.S. President administration to…\n","protected":false},"author":2,"featured_media":278691,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[11589,5490,79,207,356,18,11588,19,17,2994,790,2001,1787],"class_list":{"0":"post-278690","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-biotech-and-pharmaceuticals","9":"tag-breaking-news-politics","10":"tag-business","11":"tag-business-news","12":"tag-donald-trump","13":"tag-eire","14":"tag-health-care-industry","15":"tag-ie","16":"tag-ireland","17":"tag-johnson-johnson","18":"tag-politics","19":"tag-tariff","20":"tag-trump-administration"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115874267388090505","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/278690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=278690"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/278690\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/278691"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=278690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=278690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=278690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}