Trump claims a big win over Big Phar­ma, forc­ing Pfiz­er to walk back drug price hikes

Pres­i­dent Don­ald Trump promised he would take on Pfiz­er. And now he’s claim­ing a big vic­to­ry over Big Phar­ma price hikes.

Pfiz­er $PFE, you may re­call, deeply em­bar­rassed the pres­i­dent re­cent­ly when the com­pa­ny hiked its prices on a range of prod­ucts — af­ter Trump had claimed that drug prices would soon be falling dra­mat­i­cal­ly.

Now Trump says he’s been in di­rect con­tact with Ian Read — along with HHS Sec­re­tary Alex Azar — and the Pfiz­er CEO has backed down, agree­ing to de­lay the hikes by some months.

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