Trump claims Pfizer is 'rolling back price hikes'

12 July, 2018, 16:01 | Author: Regina Silva
  • U.S. President Donald Trump gestures during a Make America Great Again rally in Great Falls Montana

US President Donald Trump on Monday took aim at Pfizer Inc and other US drugmakers after they raised prices on some of their medicines on July 1, saying his administration would act in response.

Pfizer confirmed in a statement that it had chose to roll back the price increases after discussions between Trump and company CEO Ian Read. "We applaud Pfizer for this decision and hope other companies do the same", Trump tweeted.

The Trump administration released a blueprint last May to lower the list prices and out-of-pocket costs associated with prescription drugs. "Great news for the American people!" His comments appear to be motivated by a Financial Times piece stating that Pfizer raised their prices on 100 different drugs at the start of the month. They are merely taking advantage of the poor and others unable to defend themselves, while at the same time giving bargain basement prices to other countries in Europe and elsewhere.

Dean Mastrojohn, a Pfizer spokesman, told the Washington Post that the company's "price list remains unchanged for the majority of our medicines".

Kim Jong-un Blew Off Mike Pompeo to Visit a Potato Farm
Meanwhile, back in Pyongyang, the meetings between Pompeo and representatives of Kim's governments were a disaster. At the Pentagon on Monday, Army Col.


Rattling NATO, Trump attacks another nation's ties to Russian Federation
Later Mr Trump and German chancellor Angela Merkel had a face-to-face meeting, where the row continued. I am very happy that today we are united in freedom, the Federal Republic of Germany.


Prince Louis slept through his christening: Best pictures from the ceremony
Kensington Palace reports that following the service, Wills and Kate hosted a lovely tea for guests back at Clarence House . Princess Diana's favourite flower was the white rose - leading many to think Kate was making a subtle nod to her.


No concrete steps were taken, but Trump predicted that the industry would respond anyway and that there would be "voluntary, massive drops in prices" within two weeks. The company will return these prices to their pre-July 1 levels as soon as technically possible, and the prices will remain in effect until the earlier of when the president's blueprint goes into effect or the end of the year - whichever is sooner.

By contrast, few other large brand-name drug makers took similar steps, since most companies prefer to keep a low profile - and avoid being the subject of Trump tweets - while the White House sorts out its drug-pricing proposal.

"I commend Pfizer for its constructive and professional approach, and its desire to work with President Trump to be part of the solution and not part of the problem", he said in a statement.

"We are encouraged that the president recognizes the value our industry brings to society and our ability to fulfill our mission to discover and bring innovative new medicines to patients", Read added.

Recommended:



Popular

Meghan Markle Changed Her Outfit Five Times In 24 Hours
Both Harry and Meghan changed their outfits following a morning meeting with the Irish President, Michael D. Later in the day at Croke Park, Meghan rocked a black Givenchy suit with Sarah Flint pumps .

'Fortnite' season five adds a desert locale, golf carts and rifts
All four members of a squad can climb inside, but also work together to enable higher jumps using a well-timed lean. This should make it a little bit more challenging for players who prefer to camp as the Storm closes in.

North Atlantic Treaty Organisation states to increase defence funding
Trump has repeatedly denounced low levels of defense spending among remaining members, particularly Germany. We have a fundamental disagreements on principles and objectives between Trump and the Europeans.

Adult Film Star Stormy Daniels Arrested, Lawyer Claims "Set-Up"
Avenatti expected her to be released on bail shortly and vowed to "vehemently contest all charges", he tweeted. A person who answered the phone at the club declined to comment.

India vs England 1st ODI
Since the World Cup, English has accumulated 300-plus scores 31 times in 69 matches, including 23 wins. In the opening ODI, spin can be the key factor as the Trent Bridge ground will be drier than normal.

Rangers sign Lassana Coulibaly on season-long loan from Angers
Sadiq, 21, has struggled to pin down a regular shirt since linking up with AS Roma from Serie B side Spezia in 2015. I don't watch the league, but I know about Celtic and Rangers in Scotland .

Republican senators are gaslighting Democrats on Trump’s Supreme Court nominee
Claire McCaskill opposed Gorsuch and her approval rating had dropped "in a state that President Trump won by a 20-point margin". Wade wasn't going to make or break her vote: "It's not as if those are the only matters that come before the Supreme Court".

Samsung Galaxy X Smartphone Arriving Before Galaxy S10?
Recent reports have revealed that the company will speed up the launch of the Galaxy S10 to unveil the Galaxy X shortly after. The wide-angle snapper is expected to have a 16 MP sensor with a f/1.9 lens on top and a super-wide 123° Field of View.

NFL Supplemental Draft 2018: Sam Beal Headlines Players Selected
Based on what he's put on tape, production and athletic testing, Beal could potentially go in the second round of a normal draft. Mississippi State safety Brandon Bryant has speed and leaping ability and could easily make an early impact on special teams.

Wimbledon 2018: Rafael Nadal in stands, Novak Djokovic incensed during wins
It will be Djokovic's first Grand Slam semi-final since the 2016 US Open as he continues his bid to return to the top of the game. I get the warning, he doesn't - it's not fair.