Trump says Pfizer, others ‘should be ashamed’ for raising drug prices

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President Donald Trump, in a tweet on Monday, stated Pfizer and different drugmakers “ought to be ashamed” for rising drug costs.

Pharmaceutical firms elevated the costs of 104 medicine final week. Pfizer raised the value of 41 medicine by as a lot as 9 p.c, although it additionally lowered costs on 5 medicine by as a lot as 44 p.c. The will increase got here regardless of Trump’s promise in Might that firms would announce “huge, voluntary worth cuts” in two weeks.

Trump on Monday stated the businesses “are merely making the most of the poor (and) others unable to defend themselves, whereas on the identical time giving discount basement costs to different nations in Europe (and) elsewhere.” He stated “we are going to reply” however didn’t say how.

Trump tweet

Shares of Pfizer briefly turned detrimental on the tweet however had been final up zero.44 p.c. The corporate didn’t instantly reply to CNBC’s request for remark.

Trump has repeatedly criticized pharmaceutical firms, even accusing them of “getting away with homicide.” His administration unveiled a plan in Might to decrease costs for shoppers.

— CNBC’s Meg Tirrell contributed to this report.

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