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Pfizer CEO: When it comes to drugs, Europe is ‘free-riding’ and committing ‘blackmail’

  • Damian Garde

By Damian Garde March 23, 2017

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Ian Read
Pfizer CEO Ian Read. Matt Dunham/AP

Why are drugs cheaper in Europe than in the US? Because other countries are leeching off American ingenuity and blackmailing its innovators, according to the CEO of the nation’s largest drug company.

Pfizer CEO Ian Read, rarely one to mince words, said socialized medicine in Europe has stacked the cards against the US’s $1.2 trillion pharma industry.

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About the Author Reprints

Damian Garde

Damian Garde

National Biotech Reporter

Damian Garde covers biotech, is a co-writer of The Readout newsletter, and a co-host of "The Readout LOUD" podcast.

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