Nigeria, Feb. 7 -- Sixteen of the world's largest pharmaceutical companies have struck "most-favoured nation" deals with the administration of United States President Donald Trump to cut drug prices for Americans in exchange for exemptions from US tariffs.

This is part of the government's effort to reduce the high cost of medicines in the country, according to Reuters.

The deals apply to medicines supplied through the government's Medicaid programme and to drugs sold directly to consumers under a new platform, TrumpRx launched by the Trump administration.

According to Reuters, TrumpRx.gov is a website designed to help Americans access discounted prescription medicines.

The website was launched on Thursday at a White House event attend...