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Trump forces Pfizer to postpone Price Increases

President Donald Trump on Tuesday said Pfizer was rolling back drug prices after he spoke with Pfizer’s chief executive officer and U.S. Health and Human Services Secretary Alex Azar.

Pizer said in a statement

Following an extensive discussion with President Trump today, Pfizer’s Chairman and CEO Ian Read announced that it will defer the company’s price increases that were effective on July 1 to give the president an opportunity to work on his blueprint to strengthen the healthcare system and provide more access for patients. The company will return these prices to their pre-July 1 levels as soon as technically possible, and the prices will remain in effect until the earlier of when the president’s blueprint goes into effect or the end of the year – whichever is sooner. In addition, the price declines the company took as of July 1 will remain in effect.

“Pfizer shares the President’s concern for patients and commitment to providing affordable access to the medicines they need,” said Ian Read. “The most fundamental way the biopharmaceutical industry creates value is by discovering innovative medicines that help people live longer, healthier, more productive lives. We have entered an exciting new era with scientific advances that will result in future breakthroughs and cures. This highly complex and important work also generates hundreds of thousands of highly skilled jobs across the U.S. Furthermore we have recently committed $5 billion of capital to expand our manufacturing in the U.S. We are encouraged that the President recognizes the value our industry brings to society and our ability to fulfill our mission to discover and bring innovative new medicines to patients.”

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4 comments

  1. Mr.President Thanks for all you are trying to do for all Americans! keep going you are doing a great job you too Mrs President haters gonna hate and people wake up media lies to the American people they never give us the whole truth ever just enough to piss us off….. the drug companies are a joke they always over charge my husband wouldn’t be here if he hadn’t had some ins. I have to buy a seperate policy for mine , to high to do together a policy thru his company. The drug prices are unreal they have cures for lots of stuff but don’t dare let American have it at reasonable prices it’s un human! God sees the big picture here ty Lord for mr. Trump to get it right and fair.

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