Pfizer To Temporarily Roll Back Drug Price Increases Following Talk With Trump
The company came under fire from President Donald Trump and others when it announced steep price hikes on many of their drugs. “Pfizer & others should be ashamed that they have raised drug prices for no reason,” Trump said in a tweet prior to the company's about-face. “They are merely taking advantage of the poor & others unable to defend themselves, while at the same time giving bargain basement prices to other countries in Europe & elsewhere. We will respond!”
Reuters:
Pfizer Delays Drug Price Hikes After Talking With Trump
Pfizer Inc said on Tuesday it was deferring drug price increases for no more than six months after the company's chief executive officer had an extensive conversation with U.S. President Donald Trump. The rollback came a day after Trump took aim at Pfizer and other U.S. drugmakers for raising prices on some of their medicines, saying in a tweet that they "should be ashamed" and that his administration would respond. (7/10)
The Wall Street Journal:
Pfizer To Roll Back Price Increases After Trump Criticism
“The company will return these prices to their pre-July 1 levels as soon as technically possible,” Pfizer said in a statement. It said the restored levels will remain in effect until the president had a chance to put his plan to curb high drug prices or the end of the year, whichever is earlier. The statement quoted Mr. Read offering support for Mr. Trump. “Pfizer shares the President’s concern for patients and commitment to providing affordable access to the medicines they need,” he said. (Rockoff, 7/10)
