(Reuters) -Shares of Pfizer rose about 5% after U.S. President Donald Trump said on Tuesday the drugmaker will cut the price on all of its prescription drugs sold to the Medicaid insurance program and will introduce all new prescription drugs at a “most favored nation” price.

The White House is also planning to unveil a direct-to-consumer website, called TrumpRx, for Americans to buy drugs. Pfizer will launch sales of some of its drugs directly to consumers through that website.

According to a poster on display at the White House press conference, Pfizer will make drugs — rheumatoid arthritis drug Xeljanz, migraine treatment Zavzpret, dermatitis drug Eucrisa and post-menopausal osteoporosis medication Duavee — available on the website discounted between 40% and 85%.

Trump also added tha

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