Trump to Meet Pharma CEOs to Discuss Drug Pricing, Tariffs, and Medicare Negotiations

U.S. President Donald Trump is set to meet with top pharmaceutical executives on Thursday, a White House official confirmed. The discussions will focus on Medicare drug price negotiations, pharmacy benefit managers (PBMs), and potential tariffs on pharmaceutical imports, according to industry sources.

The pharmaceutical industry is seeking exemptions from a possible 25% tariff on drug imports and lobbying for changes to a Biden-era law that allows Medicare to negotiate prices on high-cost medications, including Novo Nordisk’s weight-loss drug Wegovy. Drugmakers argue that these negotiations threaten profits and innovation.

Another key issue on the agenda is PBM rebates. Drug companies claim these middlemen inflate prescription costs by demanding high rebates in exchange for preferred insurance coverage. The industry is pushing for regulations to curb these payments, aiming to lower out-of-pocket costs for consumers.

While the White House has not disclosed attendees, Bloomberg reported that Stephen Ubl, president of the Pharmaceutical Research and Manufacturers of America, is expected to participate. Trump previously met with Ubl and executives from Pfizer and Eli Lilly at Mar-a-Lago in December.

Republican House Speaker Mike Johnson recently suggested that Trump is considering exemptions for certain industries, including pharmaceuticals and automobiles, from reciprocal tariffs. Drugmakers hope to secure relief from these trade policies, which could impact global supply chains and drug pricing.

The meeting highlights ongoing tensions between the government and the pharmaceutical industry over healthcare costs and trade policies. With the 2024 election approaching, Trump’s stance on these issues could influence both industry regulations and voter sentiment.