President Trump criticized Pfizer and other pharmaceutical giants for their latest rounds of price increases.
President Trump on Monday criticized Pfizer and other pharmaceutical giants for their latest rounds of price increases. "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!" Trump tweeted. The Hill reports that Pfizer's latest hikes affect about 100 drugs of various purposes, including a smoking cessation aid, a painkiller, and a medication for lung cancer. It's unclear what the Trump administration intends as a response. Though Trump had campaigned on promises of "allowing the importation of lower-cost prescription drugs and letting Medicare negotiate directly with drugmakers," those measures were notably absent from the initiatives he announced in May, reports the Wall Street Journal. Weeks later, he predicted that his signing of a bill to make experimental treatments more accessible would quickly lead to drug companies voluntarily lowering their prices.