Business
Nine of the largest pharma companies ink deals with Trump to lower drug prices
U.S. President Donald Trump speaks during an event in the Roosevelt Room of the White House December 19, 2025 in Washington, DC. Trump delivered remarks on lowering prescription drug prices during the event.
Alex Wong | Getty Images
Several of the largest U.S. and European-based drugmakers inked deals with President Donald Trump on Friday to voluntarily sell their medications for less, as his administration pushes to link the nation’s drug prices to cheaper ones abroad.
That includes Merck, Bristol Myers Squibb, Amgen, Gilead, GSK, Sanofi, Roche‘s Genentech, privately-held Boehringer Ingelheim and Novartis. In exchange, the companies agreed to a three-year grace period during which their products won’t face Trump’s planned pharmaceutical-specific tariffs — as long as the drugmakers further invest in U.S. manufacturing.
Among the most notable pledges on Friday is that Bristol Myers Squibb will offer Eliquis, its blockbuster blood thinner and top-prescribed product, for free to Medicaid.
The companies make up the majority of the 17 drugmakers Trump sent letters to in July, calling on them to lower prices as part of his “most favored nation” policy. Trump signed an executive order in May to revive that policy, calling for prices to be increased outside of the U.S. and to “end global freeloading.”
“As of today, 14 out of the 17 largest pharmaceutical companies … have now agreed to drastically lower drug prices for … the American people and the American patients,” Trump said at an event on Friday. “This represents the greatest victory for patient affordability in the history of American health care, by far, and every single American will benefit.”
Johnson & Johnson, AbbVie and Regeneron are the remaining companies among the largest that haven’t signed drug pricing deals. But Trump noted that Johnson & Johnson “will be here next week.”
How the drug pricing deals will work
The full terms of the deals were not immediately released, which makes it unclear how broad their impact will be.
The nine drugmakers agreed to take measures to reduce U.S. drug prices, including selling their existing treatments to Medicaid patients at the lowest “most favored nation” prices, and guaranteeing that pricing for new medicines. Trump said the drugmakers also agreed to list their most popular drugs on his upcoming direct-to-consumer website, TrumpRx, which is launching in January.
Some companies also launched new or expanded existing direct-to-consumer offerings for certain drugs. For example, Gilead said in a release that it will launch a program that will enable patients to access its hepatitis C treatment and cure, Epclusa, at a discounted price.
Sanofi said it will offer discounts of nearly 70% on certain medicines to treat infections and cardiovascular and diabetic conditions on TrumpRx and other direct-to-consumer platforms.
Merck said it will offer three diabetes medications, Januvia, Janumet and Janumet XR, at a roughly 70% discount to cash-paying patients through a direct-to-patient program. That program will be extended to the company’s experimental daily cholesterol pill if it gets approved in the U.S., according to the company.
“I reflect on your goal of driving affordability and access to Americans, but equally, getting prices up outside the United States,” Merck CEO Robert Davis said during the press conference. “And we’re 100% supportive of your actions.”
Meanwhile, Amgen will expand its existing direct-to-patient program to include preventative migraine medication Aimovig and autoimmune treatment Amjevita, at 60% and 80% discounted monthly prices, respectively.
Earlier this year, Trump announced agreements with Eli Lilly, Novo Nordisk, Pfizer, AstraZeneca and EMD Serono to sell certain drugs directly to patients at a discount, in exchange for exemptions from his planned pharmaceutical tariffs and other benefits, such as fast-tracked reviews of new drugs.
U.S. prescription drug prices on average are nearly three times higher than overseas, according to a 2024 study by Rand Corp. Prices for branded drugs were more than four times higher, the report found.
Trump signed an executive order in May to revive the policy of most favored nation, calling for prices to be increased outside of the U.S. and to “end global freeloading.”
Trade association PhRMA, which represents many major pharma companies, has said that most-favored nation pricing isn’t the best way to lower drug costs for Americans and instead blamed pharmacy benefit managers for the price disparity.
The U.S. is the single most important market for many drugmakers, regardless of their home country. Despite being based across the Atlantic, European pharma companies are heavily exposed to the U.S. market, with half of the 10 largest companies on the Continent generating a majority of their sales in the U.S.
A takeaway owner has delivered a thousand presents to children across his city this Christmas.
Arfan Mohammed, the owner of Sizzlers Fastfood, has donated a pound from every order to buy presents for children who might otherwise not receive one on Christmas Day.
Pupils at Our Lady and St Benedict Academy are some of the children who’ve benefited.
Mr Mohammed said: “To see the smile on the faces of them children beats any challenge really. It’s priceless.”
The takeaway owner identified local schools and families in his area which would appreciate the presents and also had businesses donate presents for the cause.
“I think a lot of communities are struggling at the moment, but you only know the community you live in,” he said.
“This community means a lot to me and a lot of them are struggling.”
Mr Mohammed also delivers food parcels to the elderly and vulnerable.
He previously held a charity football match to support the families of the Southport knife attack victims after being approached by a friend of Leanne Lucas, a dance teacher injured in the attacks.
Business
Shriram Finance Shares In Focus On Monday As Japanese MUFG Bank Buys 20% Stake For Rs 39,618 Crore
Last Updated:
MUFG Bank acquires 20 percent stake in Shriram Finance Limited for Rs 39,618 crore, marking the largest FDI in Indian financial services.
Shriram Finance share price
Shriram Finance Share Price: Shriram Finance Limited shares will react on Monday, December 22, after MUFG Bank has acquired 20 per cent stake with an investment of Rs 39,618 crore (USD 4.4 billion) on Friday.
MUFG Bank has become the second Japanese lender which have made heavy investment in India’s financial sector in 2025, followed by Sumitomo Mitsui Banking Corporation, a unit of Sumitomo Mitsui Financial Group. SMBC bought a 24.2% stake in Indian lender Yes Bank starting with a 20% stake for $1.6 billion in May.
“The Board has approved raising of funds of INR 3,96,17,98,28,781.15 (Indian Rupees Thirty Nine Thousand Six Hundred and Seventeen Crores Ninety Eight Lakhs Twenty Eight Thousand Seven Hundred and Eighty One and Paise Fifteen only) from MUFG Bank Ltd. (“Investor”) a company incorporated under the laws of Japan, by way of issuance of
47,11,21,055 (Forty Seven Crores Eleven Lakhs Twenty One Thousand and Fifty Five) fully paid-up equity shares of face value INR 2/- (Indian Rupees Two only) each of the Company (“Subscription Shares”) at a price of INR 840.93 (Indian Rupees Eight Hundred and Forty and Paise Ninety Three) per Subscription Share, through preferential issue on a
private placement basis (“Preferential Issue”),” the company said in the filing.
MUFG Bank’s transaction marks a landmark moment in the Indian financial services industry as it is being the largest FDI in a financial services company in India.
The stake purchase will help SFL to enhance capital adequacy, strengthen its balance sheet, and provide longterm growth capital.
“This collaboration is further expected to unlock synergies in technology, innovation, and customer engagement, driving sustainable growth. It will improve access to low-cost liabilities and potentially strengthen SFL’s credit ratings while aligning governance and operational practices with global best standards,” it added.
Shares of Shriram Finance ended 4 per cent higher to Rs 905 apiece last week, compared the previous day close at Rs 869.45 apiece.
India allows up to 100% foreign ownership in non-banking finance companies, unlike banks where foreign institutional stakes are capped at 15% per entity unless exempted by the RBI. Earlier this month, the RBI clarified that banks can hold equity in NBFCs, easing a regulatory hurdle for MUFG’s investment in Shriram Finance, according to Reuters report.
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December 21, 2025, 10:04 IST
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New Delhi: The prices of major imported agricultural goods in South Korea have risen sharply in recent years, outpacing global price increases due to the weakening of the South Korean won against the US dollar, data showed on Sunday.
According to the Bank of Korea, the import price index for coffee came to 307.12 in November in U.S. dollar terms and 379.71 in Korean won terms, with 2020 set as the base year at 100, reports Yonhap news agency.
The figures indicate that global coffee prices have risen about threefold over the past five years but increased nearly fourfold when converted into the Korean won. The data showed that the price of imported beef increased 30 percent over the period in U.S. dollar terms but surged 60.6 percent in Korean won terms.
Over the same period, the price of imported pork rose 5.5 percent in U.S. dollar terms but jumped 30.5 percent in Korean won terms. The Korean won traded at around the 1,100-won level in 2021 before weakening into the upper 1,200-won range in 2022. In the fourth quarter of 2025, the average exchange rate stood at 1,450 won per dollar.
The price of imported fresh seafood fell 11 percent in terms of U.S. dollars but rose 10 percent in Korean won, reflecting the impact of currency depreciation, the data also showed. South Korea imports a lot of raw materials, such as sugar and flour, said Choi Chul, a professor of consumer economics at Sookmyung Women’s University.
As the price of domestically produced (agricultural products) are rising due to climate change, a hike in imported goods due to the foreign exchange rate will push up overall food prices, including processed products, Chul added.
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