WASHINGTON, Oct 10 (Reuters) - President Donald Trump is

expected to make an announcement on Friday about lowering U.S.

drug prices, according to a White House official who declined to

provide any additional details.

The announcement, which follows a deal Trump announced last

week with U.S. drugmaker Pfizer ( PFE ), is set to take place

at 5 p.m. ET (2100 GMT) in the Oval Office, the official said.

Pfizer ( PFE ) has agreed to lower prescription drug prices in the

government Medicaid program for lower-income Americans to what

it charges in other developed countries in exchange for tariff

relief.

U.S. patients currently pay by far the most for prescription

medicines, often nearly three times more than in other developed

nations, and Trump has been pressuring drugmakers to lower their

prices to what patients pay elsewhere.

Pfizer ( PFE ) was the first major pharmaceutical company to

announce a deal with Trump after the president sent letters to

17 leading drugmakers in July telling them to slash prices. He

asked them to respond with binding commitments by September 29.

The news of an impending second drug pricing announcement

was first reported by CBS News reporter Jennifer Jacobs in a

post on X, citing people familiar with the matter. Jacobs said a

new "most-favored-nation" pricing deal would be announced at the

event.