Pfizer CEO Joins $25 Million Fundraiser at Trump’s Golf Club Amid Pressure for Drug Price Cuts

Pfizer CEO Albert Bourla is set to attend a fundraiser hosted by former President Trump at his golf club in Bedminster, New Jersey. The event, aimed at supporting the pro-Trump super PAC MAGA Inc., hopes to raise around $25 million.

Just a day before the fundraiser, Trump sent letters to several pharmaceutical companies, including Pfizer. He urged them to reduce U.S. drug prices to match lower rates seen in other countries. The White House reached out to 17 drug companies, asking for price commitments for Medicaid patients and new drugs within 60 days. Trump’s social media platform featured images of these letters.

In May, Trump signed an executive order requiring federal officials to establish “most favored nation” pricing rules unless companies acted to lower drug costs. His recent letters criticized drug manufacturers for failing to make real progress since then.

Trump stated he’s in “war” against drug companies and believes prices could drop significantly soon, claiming reductions of 500 to 1,200 percent. High prescription drug prices have been a persistent concern in U.S. politics, with proposals to align prices with those in other countries being debated for years. However, these plans often meet legal challenges.

The pharmaceutical industry argues that price controls could hinder innovation, as they rely on revenue from U.S. prices to fund research and development. They also claim that Americans have access to more innovative medications compared to countries with stricter price regulations.

Bourla and Trump have previously collaborated, particularly during the Trump administration’s “Operation Warp Speed,” which expedited COVID-19 vaccine development. Pfizer executives met with Trump before his second inauguration as well.

Recent polls show that a majority of Americans support efforts to lower drug prices. A survey from the Kaiser Family Foundation indicates that 88% of people believe drug prices are unreasonable, further intensifying the discussion around this critical issue.

For more insights on prescription drug prices and healthcare costs, you can visit the Kaiser Family Foundation for updated research and data.

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