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Pfizer reverses drug price increases after President Trump blasted the company

July 11, 2018


Pfizer postponed drug price hikes after President Donald Trump ripped the company and threatened retaliation.

The pharmaceutical giant confirmed Tuesday that it “will defer the company’s price increases” for now.

The company’s response came after CEO Ian Read had “an extensive discussion” with Trump on Tuesday.

After the call, Trump hailed the concession.

“Pfizer is rolling back price hikes, so American patients don’t pay more,” he wrote on Twitter. “We applaud Pfizer for this decision and hope other companies do the same. Great news for the American people!”

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