P resident Donald Trump on Tuesday announced the creation of “TrumpRx,” a direct-to-consumer website where customers can buy drugs directly, as well as an agreement with pharmaceutical manufacturer Pfizer for significant reductions for drug prices that will be offered on the new platform.

President Donald Trump, who has long argued that the U.S. pays more than it should for prescription medicines, on Tuesday said Pfizer (PFE.N) had agreed to cut prices for drugs it sells to the Medica...

Under the agreement, New York-based Pfizer will charge most-favored-nation pricing to Medicaid and guarantee that pricing on newly launched drugs, Trump said.