Pfizer and Merck are raising drug prices again, showing that their price cuts were just a sham to mo

[Judi Lynn]

By MICHAEL HILTZIK
DEC 06, 2018 | 6:05 AM

It’s hard to believe that anyone was taken in this summer when a handful of drug companies announced rollbacks of price increases or price freezes on some of their drugs, ostensibly in response to jawboning by President Trump.

The Washington Post, in a piece republished by The Times, declared that Pfizer’s July 10 announcement that it would hold off on already scheduled price hikes was “a successful use of the bully pulpit for Trump and a relatively rapid concession by one of the country's largest companies.”

Trump himself bought into the narrative, and why not, since it made him look like a hero. “Great news for the American people!” he tweeted after Pfizer’s announcement.

You can probably tell what’s coming. Pfizer is moving ahead with price increases, as is Merck, one of the other drugmakers that staged a theatrical price rollback. In both cases, they’re exploiting loopholes that were really no secret.

More:
https://www.latimes.com/business/hiltzik/la-fi-hiltzik-drug-prices-20181206-story.html

[mr_lebowski]

1. This is just f***ing pathetic, on every possible level ... makes me sick ... WaPo? SHAME!

[democratisphere]

2. BIG Pharma part of the American Criminal Enterprise Healthcare System.

Wall Steet making sure to transfer all the wealth to the wealthiest crooks on Earth.