<p><strong>辉瑞</strong>(PFE 5.47%) 周二宣布与白宫签署了一项协议，将帮助美国人支付更低的处方药价格，并增强美国在生物制药创新方面的领导地位。这家大型制药公司将参与一个名为 &#34;TrumpRx&#34; 的网站，帮助患者找到折扣处方药，并将他们与制造商的直接面向消费者的网站连接起来。</p>
<p>总统唐纳德·特朗普和辉瑞首席执行官阿尔伯特·布尔拉在新闻发布会上讨论了这一历史性交易。总统表示：“美国消费者一直在为整个星球的研究和开发提供补贴。他们把这一切都压在我们身上，而他们也是受益者。所以这一切都改变了。” 布尔拉似乎表示同意，称：“我认为今天我们正在扭转局面，逆转一种不公平的状况。”</p>
<p>这对任何拥有或有意购买辉瑞股票的人意味着什么？投资者需要了解以下内容。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzU4MDkvcGZpemVyX2xvZ29fb25fZ2xhc3NfcGZlLmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzU4MDkvcGZpemVyX2xvZ29fb25fZ2xhc3NfcGZlLmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>对辉瑞投资者的积极影响</h2>
<p>辉瑞和其他生物制药行业面临着重大不确定性。这种不确定性源于特朗普政府对药品进口征收关税的威胁，以及实施最惠国（MFN）药品定价的计划，即美国患者将支付与其他发达国家相同的价格。</p>
<p>布尔拉在辉瑞宣布交易的新闻稿中表示：“我们现在在两个关键领域——关税和定价上，拥有了我们所需的确定性和稳定性，这些因素曾将行业估值压制到历史低点。” 他称这一协议为 “美国患者的胜利、美国领导力的胜利，以及辉瑞的胜利。”</p>
<p>辉瑞在三年的宽限期内不会面临任何关税，前提是它进一步投资于扩大其美国制造业务。该公司承诺在未来几年内在美国再投资 700 亿美元。考虑到辉瑞在 2018 年至 2024 年期间与美国研究和开发相关的资本支出总额超过 830 亿美元，这并不是一个令人担忧的金额。</p>
<h2>对辉瑞投资者的负面影响</h2>
<p>辉瑞面临的明显缺点是必须大幅降低许多产品的价格。该公司表示，&#34;大多数&#34;初级护理治疗的价格将平均降低 50%，一些特殊产品的价格也会降低。不过，辉瑞某些产品的价格将被削减 85%。</p>
<p>也不要指望辉瑞与特朗普政府达成的协议能给它带来对竞争对手的持久优势。特朗普总统暗示，其他制药公司可能很快会达成协议。</p>
<h2>整体影响</h2>
<p>投资者对辉瑞与联邦政府的交易表示赞赏，自周一市场收盘以来，这家大型制药公司的股票上涨了大约 13%。这一反应似乎是合理的。</p>
<p>消除与关税和 MFN 定价相关的不确定性对辉瑞来说是巨大的。虽然辉瑞表示 “协议的具体条款仍然保密”，但该公司的价格削减似乎仅限于医疗补助和 TrumpRx 网站上没有健康保险的人。总体而言，辉瑞协议的积极影响应该超过对投资者的负面影响。</p>

辉瑞

<p>辉瑞与白宫签署了一项重要协议，旨在通过 “TrumpRx” 网站降低处方药价格，并增强美国生物制药的领导地位。该协议为辉瑞提供了三年的关税宽限期，前提是辉瑞在美国制造方面投资 700 亿美元。尽管该协议缓解了定价和关税的不确定性，但辉瑞需要对许多产品的价格平均降低 50%。投资者对此反应积极，自公告以来，辉瑞的股票上涨了约 13%，这表明该协议的好处可能超过其缺点</p>

<p><strong>Pfizer</strong>(PFE 5.47%) announced on Tuesday that it had signed an agreement with the White House that will help Americans pay lower prices for prescription drugs and bolster U.S. leadership in biopharmaceutical innovation. The big pharmaceutical company will be involved in a website called &#34;TrumpRx&#34; that will help patients find discount prescription drugs and link them to manufacturers' direct-to-consumer websites.</p>
<div class="lb-trans"><p><strong>辉瑞</strong>(PFE 5.47%) 周二宣布与白宫签署了一项协议，将帮助美国人支付更低的处方药价格，并增强美国在生物制药创新方面的领导地位。这家大型制药公司将参与一个名为 &#34;TrumpRx&#34; 的网站，帮助患者找到折扣处方药，并将他们与制造商的直接面向消费者的网站连接起来。</p>
</div><p>President Donald Trump and Pfizer CEO Albert Bourla spoke at a press conference to discuss the historic deal. The president said, &#34;The American consumers have been subsidizing research and development for the entire planet. They put all of that on us, and yet they were the beneficiaries, too. So it's been changed.&#34; Bourla seemed to agree, stating, &#34;I think today we are turning the tide, and we are reversing an unfair situation.&#34;</p>
<div class="lb-trans"><p>总统唐纳德·特朗普和辉瑞首席执行官阿尔伯特·布尔拉在新闻发布会上讨论了这一历史性交易。总统表示：“美国消费者一直在为整个星球的研究和开发提供补贴。他们把这一切都压在我们身上，而他们也是受益者。所以这一切都改变了。” 布尔拉似乎表示同意，称：“我认为今天我们正在扭转局面，逆转一种不公平的状况。”</p>
</div><p>What does this mean for anyone who owns or is interested in buying Pfizer stock? Here's what investors need to know.</p>
<div class="lb-trans"><p>这对任何拥有或有意购买辉瑞股票的人意味着什么？投资者需要了解以下内容。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzU4MDkvcGZpemVyX2xvZ29fb25fZ2xhc3NfcGZlLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F835809%2Fpfizer_logo_on_glass_pfe.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>The positives for Pfizer investors</h2>
<div class="lb-trans"><h2>对辉瑞投资者的积极影响</h2>
</div><p>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.</p>
<div class="lb-trans"><p>辉瑞和其他生物制药行业面临着重大不确定性。这种不确定性源于特朗普政府对药品进口征收关税的威胁，以及实施最惠国（MFN）药品定价的计划，即美国患者将支付与其他发达国家相同的价格。</p>
</div><p>Bourla said in Pfizer's press release announcing the deal, &#34;We now have the certainty and stability we need on two critical fronts, tariffs and pricing, that have suppressed the industry's valuations to historic lows.&#34; He called the agreement &#34;a win for American patients, a win for American leadership, and a win for Pfizer.&#34;</p>
<div class="lb-trans"><p>布尔拉在辉瑞宣布交易的新闻稿中表示：“我们现在在两个关键领域——关税和定价上，拥有了我们所需的确定性和稳定性，这些因素曾将行业估值压制到历史低点。” 他称这一协议为 “美国患者的胜利、美国领导力的胜利，以及辉瑞的胜利。”</p>
</div><p>Pfizer won't face any tariffs during a three-year grace period, provided that it invests further in expanding its U.S. manufacturing operations. The company committed to spending an additional $70 billion in the U.S. over the next few years. That's not a worrisome amount, considering that Pfizer's capital expenditures related to U.S. research and development between 2018 and 2024 totaled more than $83 billion.</p>
<div class="lb-trans"><p>辉瑞在三年的宽限期内不会面临任何关税，前提是它进一步投资于扩大其美国制造业务。该公司承诺在未来几年内在美国再投资 700 亿美元。考虑到辉瑞在 2018 年至 2024 年期间与美国研究和开发相关的资本支出总额超过 830 亿美元，这并不是一个令人担忧的金额。</p>
</div><h2>The negatives for Pfizer investors</h2>
<div class="lb-trans"><h2>对辉瑞投资者的负面影响</h2>
</div><p>The obvious downside for Pfizer is that it must drastically reduce the prices on many of its products. The company said that prices will be cut by an average of 50% for &#34;the large majority&#34; of its primary care treatments, along with some specialty products. The prices for some of Pfizer's products, though, will be slashed by 85%.</p>
<div class="lb-trans"><p>辉瑞面临的明显缺点是必须大幅降低许多产品的价格。该公司表示，&#34;大多数&#34;初级护理治疗的价格将平均降低 50%，一些特殊产品的价格也会降低。不过，辉瑞某些产品的价格将被削减 85%。</p>
</div><p>Don't expect the deal Pfizer made with the Trump administration to give it a lasting advantage over rivals, either. President Trump hinted that agreements with other drugmakers might be on the way soon.</p>
<div class="lb-trans"><p>也不要指望辉瑞与特朗普政府达成的协议能给它带来对竞争对手的持久优势。特朗普总统暗示，其他制药公司可能很快会达成协议。</p>
</div><h2>Overall impact</h2>
<div class="lb-trans"><h2>整体影响</h2>
</div><p>Investors applauded Pfizer's deal with the federal government, with the big pharma stock jumping roughly 13% since Monday's market close. This reaction seems warranted.</p>
<div class="lb-trans"><p>投资者对辉瑞与联邦政府的交易表示赞赏，自周一市场收盘以来，这家大型制药公司的股票上涨了大约 13%。这一反应似乎是合理的。</p>
</div><p>The removal of uncertainty related to tariffs and MFN pricing that was looming over Pfizer's head is huge. While Pfizer said that &#34;specific terms of the agreement remain confidential,&#34; the company's price cuts appear to be limited only to Medicaid and on the TrumpRx website for people without health insurance. Overall, the positives of Pfizer's agreement should outweigh the negatives for investors.</p>
<div class="lb-trans"><p>消除与关税和 MFN 定价相关的不确定性对辉瑞来说是巨大的。虽然辉瑞表示 “协议的具体条款仍然保密”，但该公司的价格削减似乎仅限于医疗补助和 TrumpRx 网站上没有健康保险的人。总体而言，辉瑞协议的积极影响应该超过对投资者的负面影响。</p>
</div>

Pfizer Just Announced a Massive Deal with TrumpRx. Here's What Investors Need to Know

- 辉瑞与白宫达成协议，将降低处方药价格并促进生物制药创新。  
- 辉瑞承诺在未来几年内在美国投资 700 亿美元，三年内免除关税。  
- 尽管辉瑞将大幅降低药品价格，投资者对协议反应积极，股价上涨约 13%。

辉瑞刚刚宣布与 TrumpRx 达成一项重大交易。以下是投资者需要了解的信息