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Pfizer Drug Price Cuts Yield Three-Year Trump Tariff Respite, Lilly Deal Could Be Next
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October 1, 2025
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10:18Now PlayingPfizer secured a reprieve from President Donald Trump’s long-threatened tariffs on the pharmaceutical industry by agreeing to slash some of its drug prices by up to 85% and selling directly to the American public, a move other major drugmakers are expected to follow. Pfizer said it will ensure Americans receive comparable prices to those offered in other countries and will launch new medicines at parity, addressing a key Trump complaint that Americans unfairly shoulder the highest medical costs in the world. In exchange, the company gained a three-year grace period from widely anticipated pharmaceutical tariffs that the administration has been promulgating. It’s the latest example of the transactional nature of winning tariff exemptions from Trump, who has unilaterally wielded trade policy to exert power over multiple industries. As recently as last week, he threatened 100% tariffs on the pharmaceutical industry. Similar deals could be forthcoming. Eli Lilly said it’s in active discussions with the administration to further expand patient access, as the announcement Tuesday underscores the urgency of making medicines more affordable. Bloomberg News Health Reporter Damian Garde and Kalderos CEO Angie Franks join Bloomberg Businessweek Daily to discuss. They speak with Carol Massar and Tim Stenovec.
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