Pfizer CEO says drugmakers ready to work with Trump on DTC sales programs https://t.co/xg7fIwG2tf
Pharma prepared to work with Trump on DTC drug sales: Pfizer CEO https://t.co/H0TMiHm7Fr by @NedPagliarulo $PFE
Pfizer CEO and PhRMA board chair Albert Bourla on industry's talks with Trump about DTC programs as part of MFN demands: we're down. https://t.co/rqfceZso4h
Pfizer Chief Executive Officer Albert Bourla said on the company’s second-quarter earnings call that the pharmaceutical industry is prepared to cooperate with President Donald Trump’s directive to expand direct-to-consumer drug sales as part of the White House’s recent “most favored nation” pricing demands. Bourla, who also chairs the industry lobby PhRMA, told investors he is in active talks with Trump, Health and Human Services Secretary Robert F. Kennedy Jr. and Centers for Medicare and Medicaid Services Administrator Mehmet Oz and that major drugmakers are “ready to roll up their sleeves and execute” the plan. The push would build on initiatives Pfizer has already started, including an online program offering the blood-thinner Eliquis at a discounted cash price and a telehealth platform that lets patients schedule vaccinations and fill prescriptions for certain migraine and COVID-19 medicines. Eli Lilly, Novo Nordisk and other manufacturers have likewise begun pilots aimed at bypassing pharmacy benefit managers and selling medicines directly to patients. Trump’s letter last week warned the industry that the administration would use “every tool” available if companies failed to match prices paid in other developed nations. Separately, the Commerce Department is close to concluding a probe that could impose tariffs on pharmaceutical imports, with Trump telling CNBC the levy could eventually rise to 250%. Bourla said Pfizer expects to absorb any near-term tariff costs and still meet its full-year revenue forecast of $61 billion to $64 billion. Pfizer lifted its adjusted diluted earnings-per-share guidance by $0.10 and said it remains on track with its outlook despite potential pricing and trade pressures. The stock gained almost 4% in midday New York trading following the call.