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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I don’t know why Pfizer agreed to hold the price hikes. It’s an irony that who charges $200,000 to become a member of his club saying that Pfizer and other drug companies should be ashamed. https://bit.ly/2zp9cci
Is this the new dance craze of summer 2018?
“The political two-step”
I think Trump must have talked aggressive action against pharma pricing strategy after the missed 2-week deadline following his veiled threat about
‘voluntary action, or else’ (regulatory heavy boots).