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The Pharmaceutical Society Pfizer relinquishes criticism of US President Donald Trump for his recent drug price increases. After "long discussions" with the president, they decided to take the step, Pfizer announced. However, the Group links the waiver of price increases to one condition. In May, Trump made proposals in a speech to regulate drug costs. These were still rather vague. The president should now specify his plans, Pfizer announced.
At the beginning of July, the group had raised the prices of about 40 drugs. Trump had then attacked the company via Twitter: The Group should be ashamed to raise drug prices for no reason, writes Trump in a similar way. Even before the company publicly announced its withdrawal late Tuesday night, the US president tweeted: "Pfizer is reducing its price increases so American patients do not pay." He hopes other companies will do the same.
with the CEO of Pfizer and @SecAzar on our drug price plan. Pfizer is back, so American patients do not pay more. We congratulate Pfizer on this decision and hope that other companies will do the same. Good news for the American people!
– Donald J. Trump (@realDonaldTrump) 10. July 2018
US drug companies have long been criticized for their pricing policies. Pfizer is a center of particular interest as a leader in the industry. The United States has the highest drug costs in the world. The average American pays $ 1,100 a year for drugs. One in four can not take pills regularly because of high prices. Unlike Germany, for example, the US government does not regulate prices. The pharmaceutical companies then determine what they can achieve on the market. The industry argues that it needs high prices to develop new drugs. Critics Point to High Margins, Marketing Budgets and Management Wages
Pfizer Defends itself
Trump had already criticized the price of drugs in the United States several times, but especially with tweets or slogans. Concrete legislative changes are not yet pending. Nevertheless, some pharmaceutical companies have pledged to raise the price once more twice a year instead of the usual price increases and to keep the increases below ten percent as much as possible. Pfizer was not one of them.
Pfizer CEO Ian Read defends his industry again and again. In recent years, the cost of prescription drugs has remained relatively stable in the United States, given the share of total health expenditures. The fact that drugs for patients are more expensive is not due to manufacturers, but health insurance, for example, increases the deductibles. "It's not about the price of drugs, the affordability of the drug is the problem," he said. (Tages-Anzeiger)
created: 11.07.2018, 20:36
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