Trump Threatens to ‘Respond’ to Drug Companies That Hiked Prices

July 9, 2018, 8:50 PM

Trump Threatens to 'Respond' to Drug Companies That Hiked Prices

FILE - A Pfizer flag is displayed in front of world headquarters in New York, Nov. 23, 2015. — FILE – A Pfizer flag is displayed in front of world headquarters in New York, Nov. 23, 2015.

President Donald Trump is threatening to "respond" after several major U.S. drug companies raised prices of some widely prescribed medicines.

"Pfizer and others should be ashamed that they have raised drug prices for no reason," Trump tweeted Monday. "They are merely taking advantage of the poor and others unable to defend themselves while at the same time giving bargain basement prices to other countries in Europe and elsewhere."

Pfizer hiked the cost of about 40 different drugs earlier this month, including Viagra for male impotence, Lipitor for treating high cholesterol, and the arthritis drug Xeljanz.

Trump, who campaigned on promises to lower drug prices, said in May that some companies were volunteering to cut prices.

Pfizer said the list price of medicines do not include discounts and rebates, and that customers generally do not pay full price at the drug counter.

It also said it makes more than 400 different drugs and is cutting prices on some of them.

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