(CNN) — President Donald Trump on Tuesday announced a multipronged effort aimed at lowering drug costs in the United States, including the creation of a “TrumpRx” direct-to-consumer website where Americans can buy medicine at discounted prices and a sweeping deal with Pfizer to reduce the prices of many of its products.

“The United States is done subsidizing the health care of the rest of the world,” Trump said at a news conference, noting the administration is working with other drugmakers. “By taking this bold step, we’re ending the era of global price gouging at the expense of American families.”

Pfizer is the first drugmaker to voluntarily agree to all the demands Trump laid out in a July letter to pharmaceutical company CEOs. The president signaled others might soon follow.

Pfiz

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