Major U.S. equities indexes edged lower Tuesday afternoon, as a potential government shutdown loomed. The Dow, S&P 500, and Nasdaq were all slightly lower.
Shares of Pfizer rose about 5% after U.S. President Donald Trump said on Tuesday the drugmaker will cut the price on all of its prescription drugs sold to the Medicaid insurance program and will introduce all new prescription drugs at a "most favored nation" price.
Pfizer Inc (NYSE:PFE, ETR:PFE) shares jumped 3.5% after Donald Trump said the drugmaker would be the first company offering lower prices on its prescription drugs. Under a new agreement with the White House, the company will offer "major discounts" under the "most favoured nation" drug pricing order established earlier this year.
Pfizer said last week it would pay $47.50 per share for Metsera, and an extra $22.50 per share if its drugs hit certain milestones.
President Donald Trump will announce an agreement with Pfizer to voluntarily sell its medications at lower prices, as his administration pushes to link U.S. drug prices to the cheaper prices paid abroad. In this article PFE
President Trump is expected to unveil the measures with Pfizer's CEO on Tuesday
Zacks.com users have recently been watching Pfizer (PFE) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
In the United States' healthcare sector, a new growth theme is emerging that nearly all companies want to capitalize on. Like artificial intelligence for technology stocks, weight loss drug manufacturing and distribution businesses are all the hype for this new growth wave taking over the industry.
Making a major move in the obesity drug market, Pfizer (PFE) announced on Monday that it plans to acquire biotechnology firm Metsera (MTSR).
Pfizer Inc (NYSE:PFE, ETR:PFE) on Monday announced that it will acquire Metsera, Inc (NASDAQ: MTSR), a weight-loss drug developer, in a deal valued at up to $7.3 billion, or $47.50 per share in cash. Metsera is also eligible to receive an additional $22.50 per share contingent on the achievement of certain performance milestones.
Metsera's shareholders could see significant bonuses if certain milestones are reached.
Pfizer is closing in on a potential $7.3 billion takeover of anti-obesity drug developer Metsera , the Financial Times reported on Sunday, citing unidentified sources.