‘We will work collaboratively’: Big Pharma admits it is discussing Trump’s plan to lower drug prices
Pfizer CEO says pharmaceutical companies want to work with Trump to make medicine more affordable
- Pfizer CEO Albert Bourla announced that major pharmaceutical companies are ready to work with the Trump administration to make medicines more affordable and directly available to consumers.
- This move comes after Trump demanded that 17 drugmakers expand direct-to-consumer options and lower prices to match those in other industrialized countries, threatening to use “every tool” if they did not comply.
- Pfizer and Bristol Myers Squibb have already revealed plans to offer their blood thinner Eliquis at a lower price online, building on Pfizer's existing direct-to-consumer telehealth and prescription services.
- Other companies, such as Eli Lilly and Novo Nordisk, are also exploring direct access for their obesity drugs, aiming to bypass pharmacy benefit managers.
- Despite potential sector-specific tariffs on pharmaceutical imports, which could escalate to 250 percent, Pfizer expects to meet its financial forecasts, though experts have refuted Trump's claims of significant drug price reductions.