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    Traders gather at the post of Pfizer on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 22, 2016

    US Pharmaceutical Giant Pfizer Agreed to Roll Back Drug Prices, Trump Says

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    WASHINGTON (Sputnik) - US President Donald Trump in a statement said US drugmaker Pfizer agreed to roll back price hikes and hopes other companies follow suit.

    "Just talked with Pfizer CEO and @SecAzar [US Health and Human Services Secretary Alex Azar] 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!" Trump said in a Twitter post on Tuesday.

    ​Earlier, Pfizer increased retail prices on 91 drugs at an average 20 percent in the first half of 2017, according to Financial Times reported. Not only Pfizer, but other big market players, such as Johnson & Johnson, Bayer and Merck, have similarly ratcheted up their fees.

    READ MORE: Study Blames Big Pharma for Antibiotic-Resistant Bacteria Boom in India

    Meanwhile, Pfizer CEO Ian Read got a 61-percent 2017 pay raise amid the pharmaceutical giant's prices hike, Bloomberg reported.


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