- President Donald Trump on Monday singled out pharmaceutical giant $4 in a tweet about drug pricing.
- "Pfizer & others should be ashamed that they have raised drug prices for no reason," Trump tweeted. "They are merely taking advantage of the poor & others unable to defend themselves, while at the same time giving bargain basement prices to other countries in Europe & elsewhere. We will respond!"
- The tweet sent Pfizer's stock down for a moment before recovering.
- $4.
President Donald Trump singled out pharmaceutical giant $4 in a tweet on Monday, sending shares lower by a little more than 1% before partially rebounding.
"Pfizer & others should be ashamed that they have raised drug prices for no reason," $4. "They are merely taking advantage of the poor & others unable to defend themselves, while at the same time giving bargain basement prices to other countries in Europe & elsewhere. We will respond!"
The $4 on July 2 that Pfizer had increased the price of 100 of their products, including Viagra. Pfizer $4 to raise the list price of their medication, though according to a note Monday from Morgan Stanley, Pfizer was one of four pharmaceutical companies that have taken two rounds of price increases on eight of their drugs in 2018.
It's not the first time the president has addressed the rising cost of prescription drugs, nor the first time he's singled out a particular company.
In August 2017, amid Merck CEO Ken Frazier's $4 Trump tweeted that the move would give Frazier more time to "LOWER RIPOFF DRUG PRICES!"
And in May, the Trump administration came out with a $4 Later, Trump said he expected some drugmakers to take "voluntary massive drops in prices." Those have yet to materialize.
Get the latest Pfizer stock price$4