Trump announced new drug pricing agreements with nine major pharma companies including Amgen, Bristol Myers, Gilead, and Merck. They agreed to lower prices to match developed countries and sell through a new federal platform. In exchange, the companies get a 3-year tariff exemption on ingredients if they boost US manufacturing. This brings the total to 14 out of 17 major manufacturers signed up. AbbVie, J&J, and Regeneron haven't signed yet but are in talks. Analysts think this removes a lot of the regulatory and tariff risk that was hanging over the sector.