Pfizer to Defer Drug Price Hikes (Temporarily)
Pfizer Inc. (PFE) said Tuesday, July 10, it would hold off raising drug prices following an "extensive discussion" with Donald Trump.
The price increases went into effect on July 1. But Pfizer, in a statement, said it would "defer" the price hikes to "give the president an opportunity to work on his blueprint to strengthen the healthcare system and provide more access for patients."
Pfizer said drug prices will return to their pre-July 1 levels as soon as possible, and will remain there "until the earlier of when the president's blueprint goes into effect or the end of the year - whichever is sooner."
Trump tweeted on Tuesday that Pfizer was "rolling back price hikes, so American patients don't pay more."
Pfizer declined slightly in premarket trading on Wednesday.
https://www.thestreet.com/markets/5-things-you-must-know-before-the-market-opens-wednesday-14645670
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