Pfizer’s Drug-Price Deal With Trump Ended Months of Deadlock (1)

Around dinnertime on Sept. 25, President Donald Trump took to social media to announce a fresh round of tariffs on drugs. The Truth Social post seemingly came out of nowhere, rattling global markets as investors raced to understand the impact of the new levies.

The post, however, played a critical role in cementing a deal with one of the world’s largest pharmaceutical companies, Pfizer Inc., according to senior officials from the White House and the Centers for Medicare and Medicaid Services who requested anonymity to discuss the inner workings of the process.

Donald Trump

Photographer: Francis Chung/Politico/Bloomberg

For months, Pfizer and the White ...