Pfizer CEO Reportedly Says Company Made No Drug Price Pledges In Meeting With Trump Administration: Retail Sentiment Improves

Pfizer Inc. (PFE) CEO Albert Bourla has reportedly said that the company has made no commitments during its meeting with the Trump administration to discuss lowering U.S. drug prices.

Bourla said at the Goldman Sachs' Global Healthcare Conference on Monday that the company met with the administration with other drug companies, according to a Reuters report.

The meeting comes on the heels of an executive order from President Trump last month, which directed drugmakers to lower medicine prices to the levels of what other high-income countries pay.

"I don't know what we will hear in 30 days," Bourla said, as reported by the news agency. "The administration already started series of meetings with companies ... The meetings were cordial, but they were not digging into the substance."

Bourla expressed hopes that prices in European countries would increase given the U.S. pressure. He added that Pfizer could consider not making its drugs available for government reimbursement in some countries if the U.S. indeed resorts to price control and prices don't increase there.

"I don't think we will remove our products from the markets there - we will just remove them from reimbursement," Bourla said. "We will leave them in open market."

On Stocktwits, retail sentiment around Pfizer improved from 'bearish' to 'neutral' territory over the past 24 hours while message volume remained at 'low' levels.

A Stocktwits user highlighted that COVID-19 cases are increasing in Asia. 

PFE stock traded 3% higher on Monday at noon. The stock is down 10% this year and approximately 14% over the past 12 months.

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