India's Pfizer rises after US parent's drug pricing deal with Trump

Pfizer

01/10/2025 05:43

** Shares of Pfizer PFIZ.NS rise as much as 8.1% to 5,442 rupees

** Parent Pfizer Inc PFE.N agreed to lower prescription drug prices in the Medicaid program in deal cut with Trump

** PFIZ later trims to 2.7% gain

** ICICI Direct Research says other branded players likely to negotiate pricing to get respite from tariffs

** Notes it as an opportunity for contract development and manufacturing organisation players, especially for those having a U.S. manufacturing base

** More than 243,000 shares traded so far, 11.5x their 30-day moving avg; busiest day yet since Aug

** YTD, PFIZ down 2.5%

 (Reporting by Meenakshi Maidas in Bengaluru)

 ((meenakshi.maidas@thomsonreuters.com;))