Pfizer and the rest of the biopharmaceutical industry have faced significant uncertainty. This uncertainty is due to the Trump administration's threats of tariffs on pharmaceutical imports and plans to implement most-favored-nation (MFN) drug pricing, whereby patients in the U.S. would pay the same prices that are paid in other developed countries.

It is unclear whether Trump's push including the direct-to-consumer website, which is expected to launch early 2026, will actually bring down prices for American consumers, since insurance companies a...