Overview

• Pfizer agreed to offer many medicines to Medicaid at most‑favored‑nation prices and to list select discounts on a federal TrumpRx site scheduled to launch in 2026 that redirects users to manufacturers’ direct-to-consumer channels.
• The administration says deal terms are confidential, leaving unanswered how MFN prices are calculated, which drugs and makers will participate, and whether TrumpRx purchases would count toward insurance deductibles.
• Analysts report the policy is unlikely to change costs for most insured patients, while uninsured or underinsured buyers could see lower cash prices; Medicaid savings are uncertain given large existing rebates.
• Example pricing highlights the ambiguity: Pfizer plans about a 40% cash discount for Xeljanz to roughly $3,600 in the U.S., still far above listed prices cited in European markets, and says drugs will only "often" reflect MFN levels.
• Pfizer received a three-year reprieve from new drug import tariffs tied to a U.S. manufacturing pledge, and experts say the strategy may push other wealthy countries to pay more, raising prospects for trade, legal and market frictions.