AbbVie (NYSE:ABBV) has entered into a voluntary three-year agreement with the Trump administration, pledging a massive $100 billion investment in U.S.-based research, development, and manufacturing over the next decade.
In exchange, the pharmaceutical giant will receive exemptions from certain tariffs and future federal price mandates.
The deal, announced Monday, marks a significant milestone in the administration's "TrumpRx" initiative aimed at lowering prescription costs through direct negotiation and international price benchmarking.
Under the terms of the agreement, AbbVie will provide "low prices" for its medications within the Medicaid program and expand direct-to-patient access for blockbuster drugs, including Humira, Synthroid, and eye-care treatments Alphagan and Combigan.
"AbbVie is following President Trump's call to action by reaching this agreement, allowing us to collectively move beyond policies that harm American innovation," said Robert A. Michael, AbbVie’s Chairman and CEO.
The company, which employs approximately 29,000 Americans, serves an estimated 16 million patients annually in the U.S.