New Delhi, Dec. 19 -- US President Donald Trump is expected to announce new agreements on Friday (December 19) aimed at lowering prescription drug prices, the White House said. The announcement is scheduled for 1 p.m. ET at the White House.

AbbVie, Bristol Myers Squibb, Gilead Sciences, and Merck are among the major pharmaceutical companies expected to participate, Reuters reporting citing sources familiar with the matter.

Swiss drugmakers Novartis and Roche are also reportedly part of the deals, according to Bloomberg News.

In July, Trump sent letters to leaders of 17 major pharmaceutical companies, directing them to offer so-called most-favored-nation prices to the US government's Medicaid program for low-income individuals. Companie...