Donald Trump announces Pfizer price cuts for Medicaid; $70 billion US investment promised; stock jumps 5%

Pfizer agreed to lower prescription drug costs for Medicaid and invest $70 billion in US manufacturing, President Trump announced. This deal includes most-favoured-nation pricing for Medicaid, aiming to significantly reduce healthcare expenses. Pfizer’s shares surged following the announcement, which precedes new US tariffs on branded drugs.