Trump's Drug Price Policy Could Save $529 Billion
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.SECURITY REVIEWS:The Center for AI Standards and Innovation at the Department of Commerce's National Institute of Standards and Technologynew agreements with GoogleDeepMind, Microsoftand xAI. "Through these expanded industry collaborations, CAISI will conduct pre-deployment evaluations and targeted research to better assess frontier AI capabilities and advance the state of AI security. These agreements build on previously announced partnerships, which have been renegotiated to reflect CAISI's directives from the secretary of commerce and America's AI Action Plan. Under the direction of Secretary Howard Lutnick, CAISI has been designated to serve as industry's primary point of contact within the U.S. government to facilitate testing, collaborative research and best practice development related to commercial AI systems. CAISI's agreements with frontier AI developers enable government evaluation of AI models before they are publicly available, as well as post-deployment assessment and other research. To date, CAISI has completed more than 40 such evaluations, including on state-of-the-art models that remain unreleased," the group stated.PHARMACEUTICAL DEALS:White House economists estimate that President Donald Trump's deals with pharmaceutical companies to drop some of their U.S. prescription drug prices to what they charge in other countries could save $529B over the next 10 years, The Associated Press' Josh Boak. The analysis obtained by The Associated Press includes the first economy-wide projections behind a policy at the core of Trump's pitch to voters going into November's midterm elections for control of the House and Senate. The analysis was done by administration officials for the White House Council of Economic Advisers. The scope of the savings claimed by the Trump administration are likely to intensify the scrutiny by Democrats, who counter that any price reductions would be offset by higher costs for prescription drugs not covered by the "most favored nation" framework, the author notes. Publicly traded companies in the space include AstraZeneca, Bristol Myers, Eli Lilly, GSK, Johnson & Johnson, Merck, Novartis, Pfizer, Rocheand Sanofi.ARMY AWARD:Parsonsannounced that the company was awarded a position on a $2B multiple award task order contract by the U.S. Army Corps of Engineers to deliver energy resilience and infrastructure modernization projects at military installations nationwide. The contract supporting the Department of War Energy Resilience and Conservation Investment Program has a three-year base performance period and seven one-year option periods. This award represents new work for the company.SPACE FORCE MISSILE DEFENSE:SciTec, a subsidiary of Firefly Aerospace, announced it received an Other Transaction Authority agreement from U.S. Space Force Space Systems Command to support the nation's emerging missile defense architecture as part of the Space-Based Interceptor program. "We're proud to contribute our proven AI-powered defense technologies to our nation's critical Golden Dome program and honored by the trust placed in our team," said David Simenc, SciTec's president. This program was established under the Department of War to develop a space-based missile defense interceptor system that will demonstrate capability integrated into the Golden Dome for America architecture by 2028. The Space Force has awarded 20 total agreements worth up to $3.2B to 12 companies, including SciTec, to build the space-based missile interceptor layer with next-generation space-based tracking and advanced interceptors integrated with artificial intelligence to counter the speed, maneuverability, and lethality of the threats.
