Moderna, Inc. (MRNA) stock is soaring 5.79% in pre-market trading on Wednesday, as pharmaceutical stocks across the board experience a significant rally. The surge comes on the heels of optimism generated by rival Pfizer Inc.'s recent pricing agreement with the US government, which investors believe could pave the way for similar deals with other pharmaceutical companies.

The broader pharmaceutical sector is seeing substantial gains, with AstraZeneca up nearly 7%, Sanofi up 4%, and other major players like Novavax, Eli Lilly, Novo Nordisk, and Pfizer itself all posting increases of 2% or more. This sector-wide boost is driven by the potential for more favorable pricing arrangements in the crucial US market.

The catalyst for this optimism is Pfizer's newly announced agreement with the Trump administration. Under the deal, Pfizer will sell certain drugs at an average 50% discount on a direct-to-consumer website called TrumpRx. This initiative aims to provide Americans with access to prescriptions at government-negotiated discounted rates. Importantly, the agreement also secures Pfizer a three-year grace period from President Donald Trump's proposed tariffs on pharmaceuticals. Analysts suggest that this deal could serve as a blueprint for other pharmaceutical companies, including Moderna, to negotiate similar arrangements, potentially safeguarding their interests in the world's largest pharmaceutical market.