Will Trump tweet on Pfizer cut short the pharma rally?

A Pfizer building in Kalamazoo County

Trump warned that his administration would respond to such an unjustified increase in drug prices. Pfizer was followed by other pharma companies.

The across-the-board increases cast doubt on whether Trump and Health and Human Services Secretary Alex Azar can pressure manufacturers to voluntarily drop prices without the threat of specific consequences.

Specifically, the company boosted list, or wholesale, prices on more than 40 medicines; more than 100, if different dosages were counted. Across the industry, Wells Fargo found, companies rose drug prices on 63 products and lowered prices on 64 products in June.

China vows to hit back over new US tariffs
Trump had threatened earlier that he would impose additional tariffs if Beijing retaliated with countermeasures. The list is subject to a two-month public comment period before taking effect.

Dejan Lovren makes SHOCK revelation after Croatia beat England
Matt Reece, 25, who works in marketing, said England had far outperformed the low expectations of them when the tournament began. England were knocked out of the tournament by Croatia, and Kane looked a million miles away from his normal lethal self.

Divers Hope To Rescue Remaining Boys Trapped In Thai Cave
It's unclear whether Thai officials will opt to use Musk's submarine to rescue the four remaining boys and their soccer coach . The 18-day ordeal ended after three rescue missions which involved the Thai navy SEALs and divers from around the world.

US President Donald Trump on Monday took aim at Pfizer Inc and other US drugmakers after they raised prices on some of their medicines on July 1, saying his administration would act in response. That gives Trump, who made lowering prescription drug prices a top 2016 presidential campaign issue, a short-term victory he can point to in the run-up to the elections, which are being closely watched to see if Trump's fellow Republicans will be able to maintain control of both the Senate and the House of Representatives. He accused the company of taking advantage of the poor and defenseless while giving bargains to countries in Europe and elsewhere. The list price hikes don't factor in discounts that companies may provide to some insurance companies and patients. Still, Trump predicted it would lead, within weeks, to a major reduction in drug prices.

Nonetheless, Mr. Trump's tweet suggests he might begin calling out drug companies individually, akin to his attacks on Harley-Davidson over his tariff war. The company will return these prices to their pre-July 1 levels as soon as technically possible, and the prices will remain in effect until the earlier of when the president's blueprint goes into effect or the end of the year - whichever is sooner.

"'Pfizer shares the President's concern for patients and commitment to providing affordable access to the medicines they need, ' said Ian Read". Moreover, the vast majority of those increases were more than 9 percent, which greatly exceeds inflation while adhering to an informal and voluntary industry move to keep price hikes below 10 percent.

Related:

Comments

Latest news

Prince Harry and Meghan kick off first overseas trip in Ireland
Finally, to meet the Irish President Michael Higgins , Markle donned a taupe Roland Mouret dress with a draped folding skirt. Later in the day at Croke Park, Meghan rocked a black Givenchy suit with Sarah Flint pumps .

'Fortnite' Season 5 Adds New Locations, ATK Vehicle And Rifts
Progressive challenges are now completed by acquiring a fixed amount of XP and is no longer dependant on your season level . For the Nintendo Switch , Epic games has also included motion controls which can be adjusted in the Settings menu.

‘Strange and counterproductive’: Kerry slams Trump’s remarks at North Atlantic Treaty Organisation summit
Trump was objecting to Germany's acceptance of a new pipeline project that will bring more natural gas from Russian Federation . Despite the harsh criticism of the president, Kerry agreed that United States allies need to increase their defense spending.

Israel says closing Gaza’s main trade terminal in anti-Hamas crackdown
The flaming kites have set fires to forest and farmland, and have done some damage, though inflicted few casualties. Hamas, a Palestinian political movement, slammed Netanyahu's decision by describing it as a crime against humanity.

North Atlantic Treaty Organisation allies vow to meet spending targets after Trump criticism
Trump's next stop will be London, where he'll be meeting with Queen Elizabeth II and British Prime Minister Theresa May. Trump had "very direct language" but "when it comes to the core message we actually all agree", Stoltenberg later said.

Croatia reach final as England throw it away
But Croatia came out for the second-half on top of the Three Lions, and equalised with a goal from the outstanding Ivan Perisic . "So for them to go back to their country and take a nation like Croatia to the World Cup final is something awesome ".

Stormy Daniels arrested at OH strip club, lawyer says
The law, The Community Defense Act, prohibits adult entertainment - defined as nude or topless dancing - between midnight and 6am. Although the law has been in effect for over a decade, a 2017 report from The Columbus Dispatch found that it is seldom enforced.

Iranians protest teen arrest over dance videos
Hojabri has posted around 300 videos so far on her account, many of which display her dancing to both Iranian and Western music. Iran's state television on Friday telecasted a video of Hojabri and other arrested persons confessing to breaking moral norms .

Theresa May faces guerilla tactics from Brexit rebels
They are planning a show of strength in the Commons next week in votes on the Prime Minister's flagship Trade Bill. But leading Eurosceptic Bernard Jenkin played down the prospects of more walkouts from Mrs May's administration.

Trump blasts 'fake' NYT story on United States opposition to breastfeeding measure
The U.S. stance on the health issue was enough to draw heated reaction from a number of progressive-leaning websites . Many countries, including USA now , abide by the International Code on Marketing of Breast-Milk Substitutes.

Nigeria's Umar Sadiq close to Rangers deal
The move, which is subject to worldwide clearance, will see the 22-year-old become Steven Gerrard's eighth signing of the summer. He smiled: "I don't like to say anything about myself but I am a hardworking player who always wants to help the team".

Trump pushes allies for immediate military spending increase
Despite the harsh criticism of the president, Kerry agreed that United States allies need to increase their defense spending. The most that current Chancellor Angela Merkel will admit is that the project is as much "political" as economic.

Theresa May hopes Donald Trump visit will boost US-UK links
The PM also warned Mr Trump not to ignore the "malign behaviour" of Russian Federation when he meets Vladimir Putin on Monday. London Mayor Sadiq Khan has come under fire for his approval of a blimp featuring US President Donald Trump dressed as a baby.

Ian Wright Risks Knuckle Sandwich In On-Air Row With Roy Keane
However, he was interrupted by Wright, who insisted: "We wasn't talking about the final, we were just having a laugh with ya". Gareth Southgate's men still have one more game to play as they will take on Belgium in the third-place play-off on Saturday.

Brett Kavanaugh joins volunteers giving food to the homeless
The Washington Post's Aaron Blake breaks down, reporters have reason to question Paul's loyalty to this Supreme Court pick. More than any other red-state senator, Heitkamp has received a remarkable amount of help from Republicans to keep her job.

Other news