New Delhi, Dec. 20 -- US President Donald Trump on Friday (December 19) announced agreements with nine major pharmaceutical companies to sharply cut the prices of medicines sold through the government's Medicaid program and to cash-paying consumers, marking his latest push to bring US drug costs in line with those in other wealthy nations.

The deals were unveiled at a White House press conference, where Trump appeared alongside senior executives from the participating drugmakers.

"We were subsidizing the entire world. We're not doing it anymore," Trump said.

Companies that have agreed to the pricing deals include Bristol Myers Squibb, Gilead Sciences, Novartis, Amgen, Boehringer Ingelheim, Sanofi and GSK, along with Merck and Roche's U...