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Pfizer Agrees To Roll Back Prices On 40 Drugs, Yielding To Pressure From Trump

 
• By Jessica Merrill

After a conversation with President Trump, CEO Ian Read agreed to cancel price increases on 40 drugs that took effect July 1, to give the administration time to work on its blueprint for improving the health care system.

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Pfizer Inc. CEO Ian Read has agreed to claw back price increases on 40 drugs after a phone conversation with President Donald Trump July 10, in what represents an extraordinary move by a big pharma to yield to pressure from the US president. Pfizer's decision to roll back the recent price increases comes a day after the president publicly shamed Pfizer on Twitter for increasing drug prices.

"Following an extensive discussion with President Trump today, Pfizer's Chairman and CEO Ian Read announced that it will 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

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