AbbVie reaches 3-year deal with White House to lower drug prices

Summary

Andrew Ross Sorkin reports that AbbVie has reached a three-year agreement with the White House to lower drug prices in exchange for tariff exemptions. AbbVie also pledged $100 billion over ten years for U.S. research and development. The deal follows prior White House agreements with Merck, Roche, and Gilead as part of a broader drug affordability push.

• AbbVie reached a three-year White House drug pricing deal.
• The deal includes an exemption from tariffs.
• AbbVie pledged $100 billion over ten years for U.S. R&D.
• The agreement follows December deals with Merck, Roche, and Gilead.
• The Trump administration has been pressing pharma companies to lower prices.
• The report frames the news as part of a larger affordability story.