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00:02Johnson & Johnson said Thursday reached an agreement with the Trump administration to
00:06cut drug prices for Americans in exchange for exemptions from U.S. tariffs, according to CNBC.
00:12The agreement follows December deals between the administration and nine other major drug makers
00:17to lower prices for Medicaid and cash-paying consumers. Trump has pressured drug makers
00:22to reduce U.S. prices, which the administration says are often nearly three times higher than
00:27in other developed countries. J&J said the agreement meets Trump's requests and provides tariff
00:32exemptions for its pharmaceutical products. The company did not disclose specific pricing terms
00:37or which medicines are covered. J&J said it will participate in the TrumpRx.gov website
00:42and offer Medicaid access at prices comparable to other developed countries. It also plans
00:48two new U.S. manufacturing facilities as part of a $55 billion investment plan.
00:53For all things money, visit Benzinga.com.
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