Pfizer to offer cheaper US drugs via Trump's website in new deal

The Trump administration has announced a deal allowing patients to buy prescription drugs at discounted prices via a new website operated by the federal government.

The agreement with pharmaceutical giant Pfizer will see prices for some medicines slashed by up to 85% on the direct-to-consumer TrumpRx site, the White House said in a press conference on Tuesday.

Pfizer also agreed to lower prescription drug prices for the state-run Medicaid program, the government's public health insurance plan for low-income Americans, in a move that will see the company avoid paying tariffs.

It comes after the US president announced last week a 100% levy on branded or patented drug imports from 1 October.