Tuesday, 02 January 2024 12:17 GMT

Pfizer India Rises On Trump's Drug Discount Deal - SEBI Analyst Eyes Breakout Above ₹5,300


(MENAFN- AsiaNet News)

Shares of Pfizer, the Indian arm of U.S.-based Pfizer Inc., rose more than 2% on Wednesday after President Donald Trump announced a deal with the drugmaker to provide key prescription medications at steeply discounted prices through a new government-run online platform, 'TrumpRX.'

Deal Announcement

Speaking at the White House, Trump said Pfizer agreed to supply several of its most widely used drugs at“heavily discounted prices of anywhere between 50% and even 100%,” allowing patients to pay cash directly on the new TrumpRX website. 

He added that all new Pfizer drugs introduced in the U.S. will be sold at“most favored patient costs,” ensuring prices are comparable to the lowest charged internationally.

Pfizer CEO Albert Bourla said the company's deal with the Trump administration satisfies all of the President's requirements. 

He added that Pfizer has secured a three-year grace period from proposed tariffs on pharmaceutical imports, while also cutting prices on certain drugs.“The President is absolutely right-tariffs are the most powerful tool to motivate behavior, and they clearly motivated ours,” Bourla said.

Trump also warned that companies refusing to lower prices could face additional tariffs of 5% to 8%, as his administration continues to pressure drugmakers to expand U.S.-based production before Oct. 1, 2025.

Analyst View

SEBI-registered analyst Sunil Kotak said that Pfizer's daily chart shows a sideways trend, with the 50-day simple moving average (SMA) around ₹5,200 and a strong supply zone between ₹5,200–₹5,300. 

He noted that the stock would need to close above ₹5,300 for a fresh up-move, while the relative strength index (RSI) stands at 52, indicating consolidation for now.

What Is The Retail Mood?

On Stocktwits, retail sentiment for Pfizer was 'bullish' amid 'high' message volume.

Pfizer's stock has declined 2.8% so far in 2025.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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