(RTTNews) - Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (TEVA), announced a shared commitment with the Trump Administration to lower the cost of select medicines for American patients covered by Medicaid, while supporting continued investment in scientific innovation and U.S. pharmaceutical manufacturing capabilities.
According to the company, Teva is in active discussions with the Trump Administration regarding an agreement aligned with all four of the President's drug pricing priorities, which include lower U.S. Medicaid prices, Most-Favored-Nation (MFN) pricing for future innovative drugs, U.S. pharmaceutical manufacturing/investment, and strengthening the U.S. pharmaceutical supply chain.
If an agreement is reached, Teva would align U.S. Medicaid pricing for select medicines with leading prices in developed markets under the GENEROUS (GENErating cost Reductions for U.S. Medicaid) framework.
In addition, the agreement would include a prospective Most-Favored-Nation (MFN) commitment for applicable future innovative product launches, the company said. "Teva appreciates the opportunity to work with President Trump and his Administration to expand access and affordability for patients today while enabling continued investment in medicines patients need tomorrow," said Chris Fox, President, Teva USA.
TEVA has traded between $18.14 and $38.37 over the last year. The stock closed Monday's trade at $36.05, down 1.07%.
TEVA is currently up 2.36% at $36.90 in the after-hours market.
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