Pfizer First to Agree Drug Price Cut with Trump, Stock Surges
Pfizer has become the first pharmaceutical company to reach an agreement with the Trump administration on drug pricing. The news, announced today, has led to a surge in Pfizer's stock, rising by over two percent on Wall Street.
The agreement comes after President Trump sent letters to 17 manufacturers, including Pfizer, in July 2025, demanding price cuts with a deadline of September 29. Pfizer's deal is a significant step towards the White House's goal of launching a direct sales platform for patients, 'TrumpRx', which aims to make medication more affordable.
Pfizer's agreement also follows Trump's announcement of new tariffs of 100 percent on branded or patent-protected pharmaceutical products, effective October 1. The corporation has plans to invest over $70 billion in research, development, and domestic production. This investment is part of Trump's ongoing effort to lower drug prices in the US by tying medication prices to the lowest rates paid in other wealthy nations. Trump's administration has been working on this issue since his first term.
Pfizer's agreement with the Trump administration is a significant development in the ongoing effort to lower drug prices in the US. The company will offer Medicaid drugs at discounted prices, and the White House continues to work with other pharmaceutical companies to achieve similar agreements. The launch of 'TrumpRx' and the implementation of new tariffs are expected to further impact the pharmaceutical market in the coming months.
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