President Donald Trump on Tuesday announced a landmark agreement with Pfizer to offer significant discounts on a range of prescription medications in the United States.
Speaking from the Oval Office, Trump said the deal will make some of Pfizer’s “most popular” medicines available to all Americans at prices reduced by 50% to 100% through a federal government-operated website and direct online purchases.
The agreement stems from the “most favoured nation” drug pricing model introduced earlier this year. Trump indicated that other pharmaceutical companies are expected to follow suit in the coming weeks. He also warned that firms failing to lower prices could face tariffs equivalent to the cost difference.
Pfizer CEO Albert Bourla described the announcement as a “historic day,” saying the deal reverses an “unfair situation” and puts American patients first. Bourla added that Pfizer plans to invest $70 billion in manufacturing and research within the US over the coming years, aiming to expand development of cancer treatments, obesity medicines, vaccines, and other essential drugs.
“This is a historic moment for patients and for the future of healthcare in America,” Bourla said, highlighting the company’s commitment to boosting domestic production and research.
The Trump administration described the agreement as a major step in lowering drug costs and increasing access to essential medications for Americans nationwide.
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Trump said the U.S. and Iran were making progress in peace talks, though direct negotiations remain premature. Meanwhile, Israel, reportedly, struck senior Hezbollah and Hamas figures and tensions over Hormuz and Tehran’s nuclear programme continue.
Global investors are showing early signs of diversification away from U.S. Treasuries as worldwide debt levels climbed to a record $353 trillion by the end of March of 2026, according to a new report from the Institute of International Finance (IIF) published on 6 May.
Conflicts well beyond Southeast Asia are set to dominate talks as leaders from the Association of Southeast Asian Nations (ASEAN) regional bloc gather in the Philippines, with the crisis in the Middle East looming large over fuel‑import‑dependent economies.
The United States is closely monitoring American passengers aboard a luxury cruise ship affected by a hantavirus outbreak, the U.S. Centers for Disease Control and Prevention (CDC) said on 6 May.
U.S. President Donald Trump said that Iran wanted to negotiate and make a deal in comments to reporters on Wednesday (6 May). But earlier, he warned Washington would ramp up attacks if no agreement was reached.
Argentinian authorities are reconstructing the journeys of Dutch citizens who presented with symptoms of deadly hantavirus after visiting Argentina and Chile as part of a luxury cruise trip, the country's Health Ministry said in a statement on Wednesday (6 May)
The United Arab Emirate said it was dealing with missile and drone attacks from Iran for the second day in a row on Tuesday (5 May), despite denials from authorities in Tehran who threatened a "crushing response" if the UAE retaliated.
The 61st Venice Biennale has opened under grey skies and political tension, with disputes over Russia and Israel, resignations on the jury, and protests marking the start of one of the art world’s most high-profile events.
The Formula 1 Azerbaijan Grand Prix 2026 will mark its 10th anniversary with a major entertainment programme in Baku, headlined by global pop star Katy Perry.
Global investors are showing early signs of diversification away from U.S. Treasuries as worldwide debt levels climbed to a record $353 trillion by the end of March of 2026, according to a new report from the Institute of International Finance (IIF) published on 6 May.
Conflicts well beyond Southeast Asia are set to dominate talks as leaders from the Association of Southeast Asian Nations (ASEAN) regional bloc gather in the Philippines, with the crisis in the Middle East looming large over fuel‑import‑dependent economies.
The United States is closely monitoring American passengers aboard a luxury cruise ship affected by a hantavirus outbreak, the U.S. Centers for Disease Control and Prevention (CDC) said on 6 May.
A federal judge in New York released a handwritten document described as a suicide note purportedly written by late financier and convicted sex offender Jeffrey Epstein, nearly seven years after his death in a Manhattan jail cell. The document was released late Wednesday (6 May).
Russia has restricted some mobile internet services ahead of Victory Day on Saturday (9 May), citing security concerns. The annual celebrations, marking victory over Nazi Germany in the Second World War, have been scaled back amid fears of attacks from Ukraine.
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