Bristol Myers Squibb and Pfizer will sell their blood thinner, Eliquis, directly to patients at a 40% discount to cut costs. The move follows pressure from the Trump administration to lower drug prices and potential tariffs on imported pharmaceuticals. Patients can purchase the medication for $346 monthly through the Eliquis 360 Support program starting Sept. 8.

The discounted price is still over nine times the average $38 monthly cost for commercially insured patients. Medicare negotiated a lower price of $231 per month under the Inflation Reduction Act, effective next year. Bristol Myers Squibb and Pfizer clarified that this negotiated price is what Medicare will pay, not what patients will pay.

Over 90% of Eliquis prescriptions in the U.S. are currently covered by insurance. The new direct-to-patient program aims to expand access, reduce out-of-pocket costs, and provide transparent pricing. Bristol Myers Squibb CEO Chris Boerner emphasized the focus on innovative solutions for patient outcomes. Analysts believe the move is a response to Trump’s plan to link U.S. drug prices with other developed countries.

Leerink Partners analyst David Risinger stated that Bristol Myers Squibb and Pfizer already offer rebates on Eliquis to benefit managers, minimizing the impact of the direct sales program on their pricing strategy. The companies aim to prioritize patient access to care and savings, aligning with the changing landscape of drug pricing regulations.

Read more at CNBC: Bristol Myers Squibb, Pfizer to sell Eliquis at 40% discount