President Trump and Pfizer (PFE) CEO Albert Bourla are set to announce a plan to lower drug costs at the White House later today as well as announce a $70B investment on manufacturing medications in the U.S., reported The Wall Street Journal, citing a Pfizer spokeswoman and a White House official. Pfizer plans to lower prices on several of its medications in the U.S., but it is unclear how many drugs would be offered, or whether the new direct-to-consumer website for Americans to buy drugs, dubbed TrumpRx, would be useful for the majority of Americans who are already covered by private insurance, Medicare or Medicaid, the report noted.
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