President Trump may have used the bully pulpit to force Pfizer (PFE) to roll back a bunch of price hikes last July, but the drug maker now expects “business as normal” once January rolls around.
In an earnings conference call, Pfizer Chief Executive Officer Ian Read was asked about pricing going forward because the Trump administration has floated a few ideas to combat high costs, but taken little action. And so, Wall Street has been expecting drug companies — nearly all of which also hit the pause button on price hikes this past summer — will likely revert to their normal practice of raising prices each Jan. 1.
Read did not surprise. In fact, he was blunt.
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