10th Oct 2025 20:48
(Alliance News) - President Donald Trump on Friday plans to announce an agreement with the pharmaceuticals firm AstraZeneca PLC to lower drug prices in the US, MSNBC reported, citing a White House official.
The deal, to be announced from the Oval Office later on Friday, includes a "most-favoured-nation" drug pricing model aimed at making prescriptions more affordable for low-income Americans, including those on Medicaid.
Cambridge, England-based AstraZeneca has already agreed to invest USD50 billion in its drug manufacturing and research and development in the US.
Last month, AstraZeneca said it was upgrading its US listing but said it will keep its London trading and UK headquarters.
The company is recommending to shareholders a harmonised listing structure for its shares across the London Stock Exchange, Nasdaq Stockholm and the New York Stock Exchange.
This requires upgrading the existing US listing with a direct listing of ordinary shares on the NYSE, replacing the existing US listing of American depositary receipts.
The White House official told MSNBC that Pascal Soriot, chief executive of AstraZeneca, will meet with Trump Friday and be present for the Oval Office announcement.
The deal with AstraZeneca comes after New York-based peer Pfizer Inc struck a similar pricing agreement with the Trump administration last month to offer discounted drug prices directly to consumers.
New York listed shares in AstraZeneca were down 1.0% at USD84.22 on Friday.
By Jeremy Cutler, Alliance News reporter
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