Trump Announces Pfizer Drug-Pricing Deal, Company To Invest $70 Billion In US Manufacturing

President Donald Trump announced a deal with Pfizer (PFE) on Tuesday that includes steep drug price cuts and a $70 billion investment in domestic manufacturing facilities.

Speaking at the White House, Trump said Pfizer has agreed to provide some of its most widely used medications“at heavily discounted prices of anywhere between 50 and even 100%.” He stated that the drugs will be made available for direct purchase online through a government-operated website called 'TrumpRX.' It would allow people to pay cash for certain drugs directly from the website, at a discounted price negotiated by the government.

Pfizer's stock was up 5.5% in midday trade. On Stocktwits, retail sentiment around the stock rose to 'extremely bullish' from 'bullish' as chatter increased to 'high' from 'normal' levels over the past day. The stock was also among the top trending tickers on the platform at the time of writing. 

Trump added that all new medications introduced by Pfizer in the U.S. market will be sold at“most favored patient costs,” a reference to his administration's push to tie domestic prices to the lowest rates paid abroad.

In addition to price reductions, Trump said Pfizer will commit $70 billion to expand and restore pharmaceutical manufacturing facilities in the United States.“They're going to bring a lot of their facilities to make their drugs ... right here in America,” Trump said, adding that the investment will also fund research and development.

“With this deal we've signed today, we have satisfied all four of the President's requirements,” said Albert Bourla, CEO of Pfizer.“The President is absolutely right-tariffs are the most powerful tool to motivate behavior, and they clearly motivated ours.” He stated the company has secured a three-year grace period from President Donald Trump's promised tariffs on pharmaceuticals in a deal that would lower some of its U.S. drug prices.

Trump indicated that more pharmaceutical deals are in progress. He also threatened that if other pharmaceutical companies don't lower their prices, they could be subject to an extra tariff of between 5% to 8%. 

This comes after the President said last week that his administration would impose 100% tariffs on branded or patented drugs unless manufacturers begin building U.S.-based production plants by Oct. 1, 2025.

Read also: Bitcoin Pulls Back To $112K Ahead Of Potential US Government Shutdown

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