Seeking Alpha’s roundup of statements, announcements, and remarks that could impact markets, sectors, or individual stocks.
- President Trump said he has decided on who he plans to nominate to replace Federal Reserve Chair Jerome Powell, but didn’t disclose their name.
“I know who I am going to pick, yeah,” Trump told reporters on Air Force One on Sunday, according to Bloomberg. “We’ll be announcing it.”
Powell’s term as chair is slated to end in May 2026. Bloomberg previously reported that Trump is expected to nominate National Economic Council Director Kevin Hassett for the Fed chair post.
- The U.S. and U.K. have reached a trade deal on pharmaceuticals and medical devices.
Under the agreement, U.K.-origin pharmaceuticals, drug ingredients, and medical technology will be allowed into the U.S. tariff-free, while the U.K. will raise the net price for new pharmaceuticals by 25% and reduce rebates on sales of drugs to the U.K.’s National Health Service to 15%.
The U.S. will also “refrain from targeting U.K. pharmaceutical pricing practices in any future Section 301 investigation for the duration of President Trump’s term. Further, the United States will work to ensure that U.K. citizens have access to the latest pharmaceutical breakthroughs,” according to a statement released by the Office of the U.S. Trade Representative.
“Today, the United States and the United Kingdom announce this negotiated outcome pricing for innovative pharmaceuticals, which will help drive investment and innovation in both countries,” U.S. Trade Representative Jamieson Greer said in the statement.
“The Trump Administration is reviewing the pharmaceutical pricing practices of many other U.S. trading partners and hopes that they will follow suit with constructive negotiations,” Greer added.
- Eli Lilly (LLY) is lowering the price on single-dose vials of its popular weight-loss drug Zepbound sold through its digital platform, LillyDirect.
Under the new pricing, patients can buy 2.5 mg starter doses of the drug for as little as $299 per month, with 5 mg doses costing $399 per month. Other FDA-approved doses of the drug will be available for $449 a month under the Zepbound Self-Pay Journey Program, Lilly said in a statement.
Lilly’s Zepbound belongs to a class of drugs called GLP-1s that also includes Novo Nordisk’s (NVO) Ozempic and Wegovy. Lilly also markets Zepbound for diabetes under the brand name Mounjaro.