WASHINGTON — AstraZeneca is set to strike a deal with the Trump administration to lower drug prices, people familiar with the matter told STAT.

More details are expected to be shared at a 5 p.m. announcement with President Trump in the Oval Office. It comes a day after the company said it would invest $4.5 billion in a new manufacturing facility in Virginia . The U.K.-based drugmaker has pledged $50 billion in U.S. investments.

The expected announcement comes just weeks after Pfizer was the first pharmaceutical company to pledge to lower prices in line with what it charges in other countries, setting off a scramble across the sector to ink a deal with the White House.

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