US drugmakers rise after Trump announces Pfizer price cuts, promises more deals

Core Viewpoint - Pfizer's shares increased by approximately 5% following President Trump's announcement that the company will reduce prices on all prescription drugs sold to the Medicaid insurance program [1] Group 1 - The announcement by President Trump is expected to have a significant impact on Pfizer's pricing strategy for its prescription drugs [1] - The price cuts will apply to all prescription drugs sold to the Medicaid program, indicating a broad approach to pricing adjustments [1] - The market reacted positively to the news, as evidenced by the 5% rise in Pfizer's stock price [1]