Trump attacks Pfizer after drug price increase

President Donald Trump lashed out at drug manufacturer Pfizer after the company raised prices for 100 drugs by an average of 9 percent, effective July 1.

“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!”

HHS Secretary Alex Azar also responded to the Trump’s tweets and the drug price increases.

“The drug companies that recently increased prices will be remembered for creating a tipping point in U.S. drug pricing policy,” Azar said in a speech Monday at a drug policy conference. “Change is coming to prescription drug pricing, whether it’s painful or not for pharmaceutical companies.”

Azar also noted that currently, drug makers have “little incentive” to force down drug prices.