Johnson & Johnson said on Thursday that it has reached an agreement with the U.S. President administration to cut drug prices for Americans.
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Johnson&Johnsonsaid on Thursday that it has reached an agreement with U.S. President Donald Trump’s administration to cutdrugpricesfor Americans in exchange for exemptions from U.S. tariffs.
“The joint agreement meets the requests laid out by President Trump to the industry and provides the company’s pharmaceutical products an exemption from tariffs,” J&J said in a statement.
Specific terms of the agreement were not disclosed.
The Trump administration announced inDecemberthat it had reached agreements with nine major pharmaceutical companies to cut thepricesof their medicines for thegovernment’s Medicaid program and for cash-paying consumers, aiming to bring U.S.drugcosts in line with those in other wealthy countries.
J&J said on Thursday that it will build two new manufacturing facilities in North Carolina and Pennsylvania.
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