"Just talked with Pfizer CEO and @SecAzar [US Health and Human Services Secretary Alex Azar] on our drug pricing blueprint. Pfizer is rolling back price hikes, so American patients don’t pay more. We applaud Pfizer for this decision and hope other companies do the same. Great news for the American people!" Trump said in a Twitter post on Tuesday.
Earlier, Pfizer increased retail prices on 91 drugs at an average 20 percent in the first half of 2017, according to Financial Times reported. Not only Pfizer, but other big market players, such as Johnson & Johnson, Bayer and Merck, have similarly ratcheted up their fees.
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Meanwhile, Pfizer CEO Ian Read got a 61-percent 2017 pay raise amid the pharmaceutical giant's prices hike, Bloomberg reported.