Johnson & Johnson (NYSE:JNJ) struck a deal with the Trump administration on Thursday to lower drug prices for U.S. consumers in exchange for exemptions from tariffs.

The details of the agreement remain undisclosed, including the updated pricing and the specific drugs involved. Johnson & Johnson has pledged to offer its medicines at substantially reduced prices via the TrumpRx.gov website and to extend Medicaid access at rates comparable to those in other developed nations.

As part of its $55 billion U.S. investment plan unveiled last year, the company also said it will build two new manufacturing plants in North Carolina and Pennsylvania, with further U.S. investment announcements expected ...