Posted by Michael Wonder on 28 Jul 2020
Pfizer CEO says Trump’s executive orders overhauling U.S. drug pricing will upend the industry
28 July 2020 - Pfizer CEO Albert Bourla made his comment after the company reported better-than-expected second-quarter earnings and raised its outlook for 2020.
President Donald Trump’s executive orders aimed at lowering U.S. prescription drug costs will cause “enormous destruction” as the pharmaceutical industry races to develop vaccines and treatments for the coronavirus, Pfizer CEO Albert Bourla told investors Tuesday.
“Overall, I’m disappointed with this executive order,” Bourla said during a conference call discussing the company’s second-quarter earnings. “They pose enormous destruction in a time when the industry needs to be completely focused on developing a potential Covid-19 vaccine or treatment.”
