1:06 PM
Jul 11, 2018
 |  BC Extra  |  Politics & Policy

Pfizer creates deadline for Trump drug plan

Pfizer Inc. (NYSE:PFE) Chairman and CEO Ian Read has turned President Donald Trump’s fury over drug price increases into an opportunity to create a de facto deadline for the Trump administration to implement its drug pricing blueprint. At the same time, Read seems to have opened the door for pharma companies to negotiate drug prices with the White House.

Read also seized control, at least temporarily, over the industry’s response to the administration’s drug price blueprint by personally negotiating with Trump.

Read’s exchanges with Trump prompted Sen. Ron Wyden (D-Ore.) to question whether the White House was violating legal prohibitions on negotiation of Medicare drug prices.

In a letter to HHS Secretary Alex Azar, Wyden wrote that Azar and Trump had “engaged in negotiations with Pfizer that impacted the list price” of drugs, and that this will affect “future negotiations with Pfizer and Part D plans and pharmacies.”

Wyden accused the Trump administration of trying...

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