Senator Asks Pfizer for Data Justifying Planned Price Hikes

Sen. Tammy Baldwin (D-Wis.) hit out at Pfizer in a Dec. 11 letter for planned price hikes and asked CEO Ian Read for data justifying the increases.

Baldwin accused Read of “playing political games” in July, when the company announced the price hikes would be delayed after President Trump challenged the company. In late October, Pfizer announced prices will increase for 41 drugs on January 1.

Baldwin called for detailed data on the price hikes, noting that in the wake of the 2017 tax reform bill, Pfizer received nearly $11 billion in tax benefits, almost all of which went to stock buybacks.