President Donald Trump has been making a stink about drug prices, claiming a win Tuesday night when Pfizer deferred its plan to increase the prices of 10% of its medications.
But it remains to be seen how Pfizer’s move will impact patients still facing high prescription drug costs.
Here’s all that goes into the price patients are paying when they get to the pharmacy counter.
President Donald Trump is on a crusade to lower prescription drug prices.
In May, the Trump administration laid out a 44-page drug-pricing blueprint, calling out middlemen in the pharmaceutical industry and “freeloading” by other countries that pay less than the US for prescription drugs.
That came to a head on Tuesday when New York-based pharmaceutical giant Pfizer said that it’s deferring the price increases it planned to take on some of its prescription drugs following a conversation between its CEO Ian Read and Trump.
Trump had singled out the pharmaceutical giant earlier in the week over its recent price hikes. Pfizer had increased the price of about 40 of its 400 products, including Viagra, as of July 1. Pfizer wasn’t the only drugmaker to raise the price of its drugs, though it …read more
Source:: Businessinsider – Politics