TrumpRx Portal: Pfizer Agrees MFN Pricing Deal

President Trump announced a government-run portal called TrumpRx, expected to launch in 2026, that will redirect consumers to manufacturers' direct-to-consumer channels rather than sell or distribute drugs itself. Pfizer agreed to participate, offering most-favored-nation (MFN) Medicaid pricing and direct-to-consumer discounts the company says average about 50% and reach roughly 85% on select products. In return Pfizer secured a three-year reprieve from newly announced pharmaceutical tariffs and pledged roughly $70 billion in U.S. manufacturing and R&D investment. The administration's broader tariff policy would impose a 100% import tax on branded drugs unless companies commit to U.S. facilities, and officials said they are seeking similar agreements with other drugmakers. The White House estimated the concessions could save Medicaid and consumers millions, but observers and patient advocates said the portal may mainly help uninsured patients and is unlikely to substantially lower out-of-pocket costs for many. Investors generally reacted favorably, while some critics questioned the depth of the deals and potential public-health implications.