NEW YORK, Feb 5, 2026, 20:05 ET — The market has closed.
- Pfizer shares dropped 1.1% on Thursday, following a late pricing announcement after the market closed.
- Pfizer announced its TrumpRx program will offer discounts on over 30 medicines for patients paying out of pocket.
- Traders will be watching to see if the U.S. pricing push remains confined to cash-pay channels or spreads into wider contracts.
Pfizer (PFE.N) shares slipped 1.1% to close at $26.49 on Thursday, ahead of the company’s launch of fresh discounts linked to the TrumpRx platform. During the day, the stock fluctuated between $26.46 and $27.19. (StockAnalysis)
The timing is crucial. The discounts came through late, making Friday’s open the first clear chance to see how investors are valuing a new wave of U.S. drug-cost pressure on Pfizer and its rivals.
Drug pricing quickly shifts from policy debate to a hard numbers issue. Pfizer is working to protect its revenue while seeking new growth beyond the decline in COVID-era sales. Even small changes in net pricing can impact its guidance and valuation.
Pfizer announced its TrumpRx program will provide “significant” discounts on over 30 branded drugs, targeting uninsured patients and those insured who opt to pay out-of-pocket. The company said savings could reach “as high as 85%,” averaging around 50% on most primary care and select specialty medications. “Americans have shouldered a disproportionate share of the global cost of innovation,” CEO Albert Bourla remarked. (Pfizer)
The discounts tie into a White House initiative called TrumpRx.gov, designed to guide consumers toward lower drug prices primarily via links powered by GoodRx, not direct sales. Reuters noted the program stems from “most-favored nation” agreements the Trump administration negotiated with 16 drugmakers, including Pfizer, AstraZeneca, Merck, and GSK. It features reduced prices for Medicaid and cash-paying customers, with discounted GLP-1 weight-loss medications running about $149 to $350 per month on average. “There is a real question about the value of this for people with insurance,” said Juliette Cubanski, a Medicare policy expert at KFF. (Reuters)
Raymond James analyst Chris Meekins didn’t mince words, telling investors the TrumpRx site is “likely irrelevant” unless there’s a change in plan design, since the majority still use insurance for prescriptions. (MarketWatch)
Pfizer slid amid a tough day for equities, with the S&P 500 dropping 1.23%. In pharma, Eli Lilly took a steep hit while Merck ended up higher, highlighting how fast policy and pricing news can divide the sector. (MarketWatch)
Pfizer could benefit if discounts attract more cash-paying patients without forcing the company to offer the same deals to commercial contracts. It also helps Pfizer stay active in the growing direct-to-consumer space, particularly with obesity and chronic care gaining attention.
The downside is straightforward: lower prices don’t stay put. If TrumpRx sets a benchmark in talks with insurers, employers, or pharmacy middlemen, it could drag down net pricing across the board. And there’s no guarantee it will even catch on in the self-pay market.
On Friday, traders will zero in on the initial market response and any additional details from the administration or drugmakers clarifying how the discounts are implemented. Looking ahead, Pfizer has set June 6, 2026, to present in-depth results from its Phase 2b VESPER-3 trial of PF’3944 (MET-097i), its monthly ultra-long-acting injectable GLP-1 candidate, during the American Diabetes Association’s Scientific Sessions. (Q4Cdn)
