Tensions between the White House and Big Pharma have ratcheted up after President Donald Trump announced four executive orders targeting the pharmaceutical industry. On Tuesday morning, the president fired off the latest public salvo, while Pfizer CEO Albert Bourla harshly criticized the directives in a call with investors.
Without providing evidence, Trump on Twitter accused pharma companies of airing television ads attacking him and, he says, falsely claim the policies would raise prescription drug prices for seniors. It was not clear to which ad or ads Trump was referring.
Shortly thereafter, Bourla said the president’s actions would cause “enormous destruction” as the industry collectively tries to research and develop vaccines for Covid-19, according to a CNBC report. The comments took place during a conference call discussing the company’s second-quarter earnings.
“Overall, I’m disappointed by this executive order,” Bourla reportedly said on the call. “They pose enormous distraction at a time where the industry needs to be completely focused on developing a potential COVID-19 vaccine or treatment. The international price index is radical. Not only it is imposing socialized medicine to America, it also will create uncertainty and could lead to job losses.”
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