President Donald J. Trump tweeted about a phone call he had with Pfizer, an American pharmaceutical conglomerate, on Tuesday evening. The tweet announced progress in drug pricing negotiations, according to the president.

Trump tweeted: 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!

According to Business Insider:
President Donald Trump singled out the pharmaceutical giant Pfizer in a tweet on Monday, sending shares lower by a little more than 1% before partially rebounding.

“Pfizer & others should be ashamed that they have raised drug prices for no reason,” Trump tweeted. “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!”

The Financial Times reported last Monday that Pfizer had increased the price of 100 of its products, including Viagra. Pfizer wasn’t the only drugmaker to raise the list price of its medication, though according to a note Monday from Morgan Stanley, Pfizer was one of four pharmaceutical companies that had taken two rounds of price increases on eight of their drugs in 2018.

LEAVE A REPLY

Please enter your comment!
Please enter your name here