The great price freeze of 2018? Trump thanks pharma

Trump’s latest pharma-focused tweet reads: “Thank you to Novartis for not increasing your prices on prescription drugs. Likewise to Pfizer.​

“We are making a big push to actually reduce the prices, maybe substantially, on prescription drugs.”​

The comment follows a disparaging tweet​ posted by the US president on July 9, in which he condemned Pfizer for a planned list price hike: “Pfizer & others should be ashamed that they have raised drug prices for no reason.​

“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.”​

The following day, Pfizer announced CEO Ian Read had partaken in “an extensive discussion” ​with Trump. Pfizer “will defer the company’s 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,” ​the company said in a statement​.

“The company will return these prices to their pre-July 1 levels as soon as technically possible, and the prices will remain in effect until the earlier of when the president’s blueprint goes into effect or the end of the year – whichever is sooner,” ​the firm added.

Novartis confirmed its decision to freeze list prices in June this year: “Our US leadership made the business decision not to take price increases that were previously planned for the third quarter,” ​a spokesperson told us.

“Many factors influence our decisions to change product prices for our US portfolio and it is not uncommon for us to adjust plans for price changes.​

“We continue to engage in policy discussions to support innovative pricing models that improve quality, reduce waste and deliver better patient outcomes while rewarding research and development,” ​we were told.

Bayer has also made a commitment to maintain its prescription medicine prices for the remainder of 2018.

“We’ve let [US department of health and human services] secretary Azar personally know of this decision,” ​a Bayer spokesperson told us.

Thank you to Novartis for not increasing your prices on prescription drugs. Likewise to Pfizer. We are making a big push to actually reduce the prices, maybe substantially, on prescription drugs.

— Donald J. Trump (@realDonaldTrump) July 19, 2018