Pfizer CEO: Drug Price Talks with Trump Administration Uncertain

Pfizer's CEO, Albert Bourla, disclosed on Monday that Pfizer and other pharmaceutical companies had engaged in discussions with the Trump administration regarding the reduction of drug prices in the United States. However, these meetings did not result in any concrete commitments. The Trump administration had previously issued an executive order instructing pharmaceutical companies to align their prices with those paid by other countries, aiming to set a "most-favored-nation" price target within 30 days. This directive was part of a broader effort to lower drug prices, with the U.S. Department of Health and Human Services expressing the hope that American pharmaceutical companies would set their prices at the lowest levels paid by other high-income nations.

During his speech at the Goldman Sachs Global Healthcare Conference, Bourla expressed uncertainty about the outcomes of these discussions, stating, "I don't know what we will hear 30 days from now." He described the meetings as friendly but noted that they had not yet delved into substantive issues, focusing instead on high-level concepts. Bourla, who also serves as the chairman of the industry lobbying group, the Pharmaceutical Research and Manufacturers of America, indicated that the discussions were still in the early stages and had not yet addressed the specifics of how the government planned to implement price reductions. The group's spokesperson did not immediately comment, but had previously stated that the organization was not privy to the details of the conversations between its member companies and the government.

Bourla also raised concerns about the potential impact of U.S. price controls on European drug prices, suggesting that if the U.S. were to implement such measures, European prices might rise. He mentioned that Pfizer might consider removing certain drugs from government reimbursement lists in countries where prices did not increase, although he clarified that the company would not withdraw products from these markets entirely. Instead, Pfizer would keep the drugs available in the open market. This stance reflects the pharmaceutical industry's cautious approach to potential price controls, which could have significant implications for both patients and drug manufacturers. The lack of a formal agreement indicates that negotiations are still ongoing, with both parties exploring various options to address the rising costs of prescription drugs. The pharmaceutical industry is known for its resistance to price controls, and any changes in policy could have far-reaching implications for both patients and drug manufacturers.