Trump’s Bold Move: Prescription Drug Price Slash

President Trump announced an executive order to significantly reduce U.S. drug prices, aiming to align with costs in other nations. Eli Lilly's Zepbound drug outperforms Wegovy in a weight-loss trial. Global pharmaceutical stocks dropped in response to Trump's announcement. Tiger Brands offers settlement for listeriosis outbreak victims.

In a significant move to address the high cost of prescription drugs, U.S. President Donald Trump plans to sign an executive order aimed at bringing drug prices in line with those in other countries. This decision, announced via his social media platform Truth Social, is predicted to slash prices by up to 59%.

In another critical update, Eli Lilly's weight-loss drug Zepbound has demonstrated superior performance compared to Novo Nordisk's Wegovy in recent trials. This head-to-head comparison bolsters Lilly's position in the burgeoning obesity drug market, which could reach $150 billion by the next decade.

Meanwhile, global pharmaceutical shares took a hit following Trump's announcement, as investors recalibrate their expectations for the industry. Additionally, South Africa's Tiger Brands made strides to resolve the repercussions of a deadly listeriosis outbreak by offering settlements to victims and affected parties.

(With inputs from agencies.)