Trump-Pfizer Deal Spurs Pharma Stocks’ Best Week in 23 Years (1)

Pharmaceutical stocks capped off their best week in 23 years as a drug-pricing and tariff deal with the US government helped ease an overhang that’s been weighing on the sector for most of the year.

The group’s advance was spurred by Pfizer Inc.on Tuesday when it agreed to slash some of its drug prices for Americans enrolled in the Medicaid insurance program in exchange for a three-year reprieve on import tariffs. The New York-based company also agreed to invest $70 billion in the US as part of an agreement with President Donald Trump.

The deal was seen as ...