Trump's Pharma Pricing Deal Expands as Healthcare Stocks Keep Climbing
Healthcare stocks wrapped up their best quarter yet, and UBS says the rally still has room to run. President Trump added nine more pharmaceutical firms to his drug-pricing deal on Monday.
Michael Yee, UBS's global head of biotechnology equity research, told CNBC the advance reflects a stack of major clinical wins. He said new pricing deals have also calmed fears of a broader industry crackdown.
Nine New Agreements
Trump announced the nine new agreements at the White House on Monday. He said the combined pricing deals struck over the past year would save Americans more than $600 billion.
The nine additional firms are mostly midsize drugmakers, including Alcon, Astellas Pharma, and Teva Pharmaceuticals. The companies pledged $19.6 billion combined toward U.S. manufacturing, according to a White House fact sheet.
They also agreed to offer their drugs to every state Medicaid program at discounted prices.
The White House said 17 companies had already joined the pricing framework over the past year.
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