Pfizer Enterprises Abandoned Rising Drug Prices After Talking to Trump

Business

The US pharmaceutical company Pfizer has postponed expected price increases for 100 drugs after lengthy talks with President Donald Trump, who said the company "should be ashamed". The unusual decision came one day after Trump rejected the proposal to raise prices, arguing that Pfizer and other pharmaceutical companies "profit the poor," the Financial Times recalls. [19] The pharmaceutical giant announced that it would temporarily cancel the price increases that came into effect on July 1 and that apply to some of the best-selling drugs. "Pfizer is rethinking its decision so that Americans can not pay more than they need," Trump told Twitter. "We applaud Pfizer and hope that other companies will follow suit." Good news for Americans! "

Long-awaited Health Reforms

In a statement, Pfizer announced that its chief executive, Ian Reed, agreed to postpone increases to give the president more time to carry out the reforms prepared for the system. US health care announced in May .
The company said the prices would be the same as before July 1 and added that they would remain so until the end of the year or until its entry into force the "presidential project to strengthen the health system" that will arrive soon

"Pfizer shares the president's concern for patients in search of access to the medications they need, "said Reed, and adds that" the most important thing in the pharmaceutical industry is the discovery of new drugs that can help people live longer and in better health. "[19659011] A price policy

The price of some drugs has increased 20% since the beginning of the year, but Pfizer has not specified if it would affect their profitability by the end of the year. # 39; year. Some badysts are of the opinion that the company should steadily increase its prices to maintain revenue growth. Most often, drug companies increase their prices once in January and once again in summer. Many, however, abstained from the second increase due to the Trump administration 's increased pricing policy badysis in the industry. Pfizer, however, raised its prices for the second time this year, attracting more political attention

The Celgene biotechnology group and diabetes drug maker Novo Nordisk also increased their prices more than once in 2018. Earlier this week, Donald Trump criticized Pfizer's action, saying that "Pfizer and other companies should be ashamed of rising drug prices for no reason, just take advantage of the poor and those who can not protect themselves at the same time, selling at reasonable prices in other countries of Europe and beyond, we will have to answer them ! "