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Ian Read blinked.

In an unexpected about-face, Pfizer agreed to defer substantial price hikes that went into effect just last week on more than 40 medicines after its chief executive spoke with President Trump, who is under increasing pressure to take action to lower the cost of prescription drugs.


The move was announced on Tuesday evening by Trump in a tweet, in which he said he had talked with Pfizer chief executive Ian Read and Alex Azar, secretary of Health and Human Services, to discuss the “blueprint” for tackling rising drug prices.

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