Pharmaceutical giant Pfizer has announced that it has temporarily rolled back the recent hike in the prices of its drugs after the American company's chief executive officer had an extensive talks with President Donald Trump.
Pfizer's Chairman and CEO Ian Read yesterday announced that the pharma company will defer price increases that were effective on July 1 to give the president an opportunity to work on his blueprint to strengthen the healthcare system and provide more access for patients.
Pfizer, one of the largest pharmaceutical companies, said it would return drug prices to their pre-July 1 levels as soon as technically possible.
The rollback came a day after Trump took aim at Pfizer and other US drugmakers for raising prices on some of their medicines, saying in a tweet that they should be ashamed ashamed that they have raised drug prices for no reason. They are merely taking advantage of the poor & others unable to defend themselves."