Pfizer shares jump 8% on Medicaid deal with Trump

Pfizer shares surged after the US drugmaker agreed to lower prescription drug costs for Medicaid under a deal with the Trump administration. The agreement includes a $70 billion investment in R&D and domestic manufacturing, a three-year tariff grace period, and participation in the White Houses TrumpRx platform launching in 2026, offering many treatments at an average 50% discount.