US President Donald Trump announced an agreement with AstraZeneca in which the company will significantly cut consumer prices for some of its drugs in exchange for tariff relief. This is the second major agreement the White House has reached with a pharmaceutical company to lower healthcare costs for Americans.

"AstraZeneca, the largest pharmaceutical company in the United Kingdom, has committed to providing Americans with significant discounts on its vast portfolio of prescription drugs," Trump said in the Oval Office on Friday (October 10). AstraZeneca CEO Pascal Soriot was also present.

This agreement, similar to the one reached with Pfizer last week, includes: AstraZeneca will significantly reduce drug prices in exchange for a three-year exemption from pharmaceutical tariffs. All new drug prices launched by the company in the United States will match the lowest prices among comparable countries. Additionally, the company will provide drugs at significantly discounted prices to Medicaid, a health insurance program for low-income and disabled individuals.

The British drugmaker will also expand the products sold through its direct sales website, "AstraZeneca Direct," at what Trump called "significantly reduced" prices, and will make those medicines available on the TrumpRx website.