23:11 GMT +320 July 2018
Listen Live
    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

    © REUTERS / Brendan McDermid
    US
    Get short URL
    641

    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.

    Related:

    US Biotech Firm Medivation Seeks $14Bln Merger With Rival Pfizer
    Pfizer Praised for Its Decision to Restrict Lethal Injection Drug Sale
    Pfizer to No Longer Permit Use of Its Drugs for Lethal Injections
    Tags:
    prices, Pfizer Inc, Donald Trump, United States
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment