Pfizer delays drug price hikes after pressure from Trump

President Trump tweeted on Tuesday that drugmaker Pfizer is “rolling back price hikes, so American patients don’t pay more,” saying he and Health Secretary Alex Azar just discussed costs with Pfizer CEO Ian Read.

Just talked with Pfizer CEO and @SecAzar on our drug pricing blueprint. Pfizer is rolling back price hikes, so American patients don’t pay more. We applaud Pfizer for this decision and hope other companies do the same. Great news for the American people!

— Donald J. Trump (@realDonaldTrump) July 10, 2018

Pfizer confirmed that it had agreed to delay price increases that took effect July 1 “to give the president an opportunity to work on his blueprint to strengthen the health-care system,” the Financial Times reports. On Monday, Trump tweeted that “Pfizer & others should be ashamed that they have raised drug prices for no reason. They are merely taking advantage of the poor & others unable to defend themselves.”

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Source:: The Week – Business


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