Pfizer Secures $70B US Investment Deal with Three-Year Tariff Exemption, Olema Shares Slide
Pfizer secured a three-year exemption from proposed 100% import tariffs and pledged a $70 billion US research and manufacturing investment under a deal with the administration. Roche’s phase 3 persevERA trial of giredestrant plus palbociclib failed its endpoint, sending Olema shares lower and clouding Pfizer-Novartis Palazestrant timelines.
1. U.S. Investment and Tariff Exemption
Pfizer reached a September 30 agreement with the administration to invest $70 billion in US research and domestic manufacturing, securing a three-year exemption from proposed 100% tariffs on imported patented medicines and committing its products to the TrumpRx.gov pricing platform.
2. Olema Trial Results and Partnership Impact
Roche’s phase 3 persevERA trial of giredestrant plus palbociclib failed its primary progression-free survival endpoint, pushing Olema Pharmaceuticals shares down over 20% and raising concerns about the development timeline for Palazestrant, the oral SERD being co-developed by Pfizer and Novartis.