Pfizer(US:PFE) Sou Hu Cai Jing·2025-10-04 04:44Core Points - Trump and Pfizer's CEO reached a tripartite agreement focusing on drug price reduction, domestic investment, and tariff exemptions, attracting global attention [1] - The agreement is a result of months of pressure from the Trump administration, which previously demanded 17 global pharmaceutical companies to lower drug prices to levels comparable to developed countries [1][2] - According to a RAND Corporation report, U.S. drug prices are 2.78 times higher than the average prices in 32 OECD member countries [1] Group 1 - Pfizer will provide all drugs and future new drugs to the U.S. Medicaid program at "most favored nation prices," referencing the lowest prices from eight developed countries [2] - The "TrumpRx" government-operated platform will allow direct sales to U.S. consumers, offering discounts up to 80% on certain drugs and 50% on most primary care medications [2] - Pfizer will invest $70 billion in U.S. manufacturing and receive a three-year exemption from drug tariffs, with Trump stating that no tariffs will be charged if factories are relocated to the U.S. [2] Group 2 - Concerns have arisen regarding potential global drug price increases as companies may raise prices in developing countries to offset losses in the U.S. market [3] - The U.S. government plans to pressure other countries through trade negotiations to increase drug tariffs, contributing to market volatility and uncertainty [3] - The unilateral U.S. drug tariff policy has faced criticism for its lack of clarity, making it difficult for companies to establish stable investment plans [3] Group 3 - The transfer of U.S. drug pricing issues to the global stage highlights the hegemonic logic of the "America First" policy, which may lead to detrimental outcomes for the U.S. in the global pharmaceutical market [4]