Pfizer Avoids Tariffs, Gold Hits Record High, Amazon Launches Grocery Brand: Money Minute

Pfizer's Tariff Avoidance Strategy

• 💊 Pfizer will avoid President Trump's tariffs on the pharmaceutical industry by agreeing to slash drug prices by up to 85%.
• 🤝 The company will also sell directly to American consumers, a move expected to be followed by other major drugmakers like Eli Lilly.
• ⏳ Pfizer has secured a three-year grace period from the anticipated drug tariffs.

Gold Reaches Record High Amidst Government Shutdown

• 🥇 Gold prices have reached a new record high, touching nearly $3,876 an ounce, partly due to the government shutdown.
• 📈 This surge is attributed to demand for safe-haven assets during times of uncertainty.
• 📊 Gold has appreciated over 47% this year, positioning it for its biggest annual gain since 1979.

Amazon's New Private Label Grocery Brand

• 🛒 Amazon has launched a new private label food brand named Amazon Grocery.
• 📦 This new line consolidates over a thousand grocery items from its existing Amazon Fresh and Happy Belly brands.
• 📉 Shares of grocery competitors experienced a decline following the announcement.