President Donald Trump speaks in the Oval Office of the White House, Tuesday, Sept. 30, 2025, in Washington. (AP Photo/Alex Brandon)

Drugmaker Pfizer has agreed to lower drug costs and invest $70 billion in U.S. manufacturing under a deal struck with the Trump administration.

The announcement, which Trump made with Pfizer CEO Albert Bourla at the White House today, came as Trump for months sought to lower drug costs.

Under the agreement, New York-based Pfizer will charge most-favored-nation pricing to Medicaid and guarantee that pricing on newly launched drugs, Trump said. That involves matching the lowest price offered in other developed nations.

“I can’t tell you how big this is,” the president said.

“I think today we are turning the tide and we are reversing an unfair situation,” B

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