Trump Thought Yelling at Drug Makers Would Cut Prices; With Election Over They're Raising Prices Of Course

One of Trump's repeated promises (lies) during the campaign was to go after pharmaceutical companies and take action to lower prescription drug prices.  Why would a White House owned by corporate interests do such a thing to help the American people?  Turns out they won't, bowing to powerful industry as usual over the interests of the people they were elected to represent.

Drug giant Pfizer announced on Friday [11/16/18] it will increase the list prices of 41 medicines in January, just months after it agreed to temporarily roll back price hikes under pressure from Trump.

Pfizer's new price increases, which take effect Jan. 15, will apply to 10 percent of its portfolio, the company said. Most of those drugs will see 5 percent increases.

Trump told them not to hike prices until after the election.  Ten days after, they announced price increases.  Unacceptable by Pfizer to play politics and lie to our people just like Trump.

Some Wall Street analysts said drug companies were holding down price increases this summer to avoid provoking more aggressive action from the Trump administration.  Drug companies, "don't need to play nice anymore (or not 'as nice')," Bernstein investment analyst Ronny Gal said in an email.

Trump's criticism of Pfizer earlier this year also prompted nine other drugmakers to roll back or freeze prices. But the gestures were largely seen as symbolic, with some companies agreeing to freeze prices just weeks after they already took what is usually their last price increases of the year — companies typically raise prices in January and July. Health policy experts have expected the industry would resume regular price increases starting in January.

“The drug price pledges made earlier this year were just for show — it was obvious at the time, and it's obvious now,” said Walid Gellad, director of the Center for Pharmaceutical Policy and Prescribing at the University of Pittsburgh. 

Sources:

https://www.politico.com/story/2018/11/16/pfizer-drugs-prices-increase-trump-981010

http://smartdissent.com/article/trump-flip-flop-executive-order-drug-prices-will-be-friendly-drug