Open this photo in gallery: U.S. President Donald Trump announces a deal with Pfizer to sell drugs at lower prices, in the Oval office of the White House on Tuesday.Ken Cedeno/Reuters
Pfizer PFE-N and U.S. President Donald Trump on Tuesday said they had cut a deal in which the U.S.-based drugmaker agreed to lower prescription drug prices in the Medicaid program to what it charges in other developed countries in exchange for tariff relief.
Trump also said Pfizer would offer that most-favoured-nation pricing on all new drugs launched in the U.S. and flagged that other drugmakers will follow suit.
Shares of Pfizer rose more than 6 per cent, and the news lifted Eli Lilly, Merck, Amgen, Ab
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