GSK PLC (LSE:GSK, NYSE:GSK) has become the latest big pharma company to fall into line with the US government's "most favoured nation" drug pricing regime, in exchange for an exemption from tariffs.
The FTSE 100 group said the voluntary agreement with the White House implements all four policy actions requested by President Trump earlier this year. It includes reduced prices for asthma and COPD treatments used by over 40 million people in the US.
As part of the arrangement, the company will offer several medicines, including much of its inhaled respiratory portfolio, at discounts of up to 66% via a direct-to-patient platform.
New drugs will be launched under a 'most favoured nation' pricing model, ensuring US citizens pay no more than the lowest price charged in other developed markets.
The agreement also supports the US Strategic Active Pharmaceutical Ingredients Reserve, securing a supply of albuterol, a key component in inhalers.
Under the deal, GSK and its HIV-focused joint venture, ViiV Healthcare, will benefit from a three-year exemption from s232 tariffs under the deal.
Emma Walmsley, chief executive, said: “Today's announcement builds on GSK's strong track record of increasing access and improving the affordability of its medicines worldwide, including an ongoing commitment to responsible pricing."
She noted that the company employs around 15,000 people in the US and has pledged to invest more than $30 billion in its American operations by 2030.