(NewsNation) — President Donald Trump said Friday he has struck a deal with British pharmaceutical company AstraZeneca to lower U.S. drug prices.

“Today, AstraZeneca is committing to offer all of their prescription medications to Medicaid at most favored nations prices,” Trump said during a White House news conference.

The president said AstraZeneca will also list many of its most popular drugs online at TrumpRx, a new website that will allow people to buy medications directly from manufacturers.

The British drugmaker has also agreed to sell new products it introduces in the U.S. market at these “heavily discounted rates,” Trump said.

The deal, which was unveiled from the Oval Office, is aimed at lowering prescription drug costs through a “most favored nation” pricing model, which involves matching the lowest price offered in other developed nations.

It follows a similar deal announced last week with U.S. drugmaker Pfizer. Under that agreement, Trump said, Pfizer will charge most-favored-nation pricing to Medicaid and guarantee that pricing on newly launched drugs.

Pfizer also agreed to participate in TrumpRx, a site that is still in the works.

“Starting early next year, when you go to the website, you’ll be able to see a marketplace,” Dr. Mehmet Oz, administrator of the Centers for Medicare and Medicaid Services, said Friday.

Oz clarified that the website won’t be selling the drugs, but it’s intended to make information available so people go to the “right place.”

In July, Trump sent letters to 17 of the largest pharmaceutical companies — including AstraZeneca and Pfizer — calling on them to reduce prescription drug prices in the U.S. He has also threatened to impose tariffs on imported drugs to persuade companies to strike deals.

The Associated Press contributed to this report.