Pfizer Says It Will Lower Drug Prices After Talk With Trump
Pfizer said its prices would be "deferred" to levels seen 10 days ago
Following a discussion with President Donald Trump, pharmaceutical giant Pfizer announced Tuesday that it would roll back planned drug price increases for July, NBC News reported.
The president said he met with Pfizer CEO Ian Read, as well as U.S. Department of Health and Human Services Secretary Alex Azar, to discuss Trump's "drug pricing blueprint" and came away with a vow from the company to roll back price increases "so American patients don’t pay more."
Pfizer in a statement said its prices would be "deferred" to levels seen 10 days ago, "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."
Trump praised the move, writing on Twitter, "We applaud Pfizer for this decision and hope other companies do the same. Great news for the American people!"