Trump Slams Big Pharma Over Price Increases

politics
July 09, 2018Jul 09, 2018

President Donald Trump called out a major American pharmaceutical company Monday for increasing its prices and not complying with his repeated calls for drug makers to lower costs at the checkout counter.

“Pfizer & others should be ashamed that they have raised drug prices for no reason. They are merely taking advantage of the poor & others unable to defend themselves, while at the same time giving bargain basement prices to other countries in Europe & elsewhere. We will respond!” the president tweeted Monday afternoon.

https://twitter.com/realDonaldTrump/status/1016368503723577344

Trump promised the American people in May that they would soon see massive price cuts to prescription drugs — a prediction that has yet to materialize. Bayer, Pfizer and other major pharmaceutical makers have raised their prices in the face of the administration’s bold announcement. Pfizer increased the price of over 100 of its products July 1.

“The list price remains unchanged for the majority of our medicines. Our portfolio includes more than 400 medicines and vaccines; we are modifying prices for approximately 10% of these, including some instances where we’re decreasing the price,” Pfizer said in a statement.

Bayer also jacked up the price of two of its cancer drugs in May.

After moving on from repealing and replacing Obamacare, the administration has made it a point to address the rising costs of prescription drugs. The campaign was always within the confines of the administration’s plans for the American health care system. Trump said on the campaign trail leading up to 2016 that drug companies were “getting away with murder.”

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