Average Consumer Unlikely To Get Any Benefit From Pfizer’s Decision To Roll Back Steep Drug Increases
The company won glowing praise from the White House after it decided to delay its price hikes, but experts say the move is not going to make a big difference to any of the players involved -- including the consumers. Meanwhile, congressional Democrats want more information on the deal between Pfizer and President Donald Trump.
What Pfizer, Trump, And Consumers Got Out Of A Surprising Deal
After months of pledging he would get pharmaceutical companies to lower their prices, President Trump can now say that he pressed the CEO of a major drug maker, Pfizer, to back down on a series of price hikes. Pfizer, in turn, has earned glowing praise from Trump and his administration and will likely not suffer much, if at all, financially. (Merhson and Swetlitz, 7/11)
Top Dem Demands More Details On Pricing Deal Between Pfizer And Trump
The top Democrat on the Senate Finance Committee is demanding details on an agreement between President Trump and drug company Pfizer to temporarily hold off on drug price increases. ...Pfizer announced Tuesday evening it would defer previously announced price increases on 100 drugs following "an extensive discussion" with Trump to give the administration more time to work on its plan to lower costs. (Hellmann, 7/11)
Pfizer Separates Consumer Health Unit In Business Rejig
Pfizer Inc announced plans on Wednesday to reorganize into three units, separating its consumer healthcare business that the U.S. drugmaker has been trying to sell since last year. The company said it is still looking for options for the lower-margin, non-core consumer healthcare business that makes products ranging from painkiller Advil to lip balms and is worth about $15 billion. (Mishra, 7/11)