As Common Dreams reported, "rather than allowing the government to negotiate lower drug prices-a proposal backed by 92 percent of Americans-Trump's plan vaguely promises to "encourage innovation" in the private sector while pursuing "reforms" to Medicare to promote 'greater flexibility'". Pfizer was followed by other pharma companies.
Five weeks ago, Trump said that drugmakers would announce "voluntary, massive" cuts in drug prices in two weeks.
The company added that prices will return to the levels before the July 1 price hike "as soon as technically possible" and will remain in effect until the Trump blueprint goes into effect or by the end of this year - whichever is sooner.
Trump is tweeting that he and Health Secretary Alex Azar discussed the issue Tuesday with Pfizer CEO Ian Read.
Fortnite Season 5 arrives with desert, rifts and new vehicle
The biggest change pertains to the new Rifts that are scattered all throughout the " Fortnite " battle royale map. However, the first storm circle will now only ever do 1 damage, no matter how long you're stuck in it.
Papa John's says founder resigned as chairman of the board
Company shares fell as much as 5.9 per cent on Wednesday to US$47.80 near midday, the lowest intraday level since February 2016. The city of Jeffersonville, Ind., had plenty of reason to add John Schnatter's name last year to its 80-year-old gymnasium.
Trump administration announces $US200 billion in extra China tariffs
That means that U.S. companies working inside of China may be about to feel the wrath of the Chinese government - and consumer. Regulators can deny or cancel licenses or tie up companies by launching tax, environmental or anti-monopoly investigations.
President Donald Trump said Pfizer Inc. should be "ashamed" for raising the prices of its pharmaceutical products, rattling shares of the US drug giant on Monday.
Pfizer, one of the largest pharmaceutical companies, now likely will not raise drug prices until after the 2018 midterm elections in November. His comments appear to be motivated by a Financial Times piece stating that Pfizer raised their prices on 100 different drugs at the start of the month. "They are merely taking advantage of the poor & others unable to defend themselves". Importantly, list prices do not reflect what most patients or insurance companies pay.
Trump rolled out a blueprint in May on how his administration planned to lower drug prices. But by Tuesday, the company's position changed, as it opted to scrap the increases until at least next year.
In a statement, the company said that it "shares the President's concern for patients and commitment to providing affordable access to the medicines they need".