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Benzinga

Business

Dylan Berman

Pfizer Shares Are Trading Higher Wednesday: What's Going On?

Pfizer Donald Trump PFE

Pfizer logo on building

Pfizer (NYSE:PFE) shares are trading higher Wednesday after President Donald Trump announced a drug-pricing deal with the company.

What To Know: Trump said Pfizer will voluntarily cut prices on many of its drugs for Medicaid patients, with discounts averaging 50% and reaching as high as 85%. The deal covers a wide range of the company's primary care and specialty brand-name medicines.

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