Trump attacks Pfizer after drug price increase

Amy Baxter | | Health Exec | Policy & Regulations

President Donald Trump lashed out at drug manufacturer Pfizer after the company raised prices for 100 drugs by an average of 9 percent, effective July 1.

“Pfizer & others should be ashamed that they have raised drug prices for no reason,” Trump tweeted. “They are merely taking advantage of the poor & others unable to defend themselves, while at the same time giving bargain basement prices to other countries in Europe & elsewhere. We will respond!”

HHS Secretary Alex Azar also responded to the Trump’s tweets and the drug price increases.

“The drug companies that recently increased prices will be remembered for creating a tipping point in U.S. drug pricing policy,” Azar said in a speech Monday at a drug policy conference. “Change is coming to prescription drug pricing, whether it’s painful or not for pharmaceutical companies.”

Azar also noted that currently, drug makers have “little incentive” to force down drug prices.

Amy Baxter
Amy Baxter

Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."

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