Major pharmaceutical company Pfizer said they will no longer increase their prices following President Trump’s criticism.
WASHINGTON -- Pharmaceutical company Pfizer said in a statement Tuesday that CEO Ian Read had agreed to "defer the company's price increases that were effective on July 1 to give the president an opportunity to work on his blueprint to strengthen the healthcare system." President Trump tweeted Tuesday that Pfizer is "rolling back price hikes, so American patients don't pay more."
Mr. Trump tweeted that he and Health Secretary Alex Azar discussed the issue Tuesday with Read.
Pfizer says it will "return these prices to their pre-July 1 levels as soon as technically possible."
Mr. Trump complained about the price increases on Twitter Monday, writing: "Pfizer & others should be ashamed that they have raised drug prices for no reason. They are merely taking advantage of the poor & others unable to defend themselves."
Amazing! President Trump may have magic wand after all.