Pfizer CEO calls drug pricing executive orders 'radical,' an 'enormous distraction'

Pfizer's CEO, Albert Bourla, PhD, expressed disapproval of President Donald Trump's recently issued executive orders on drug costs during a July 28 earnings call, according to CNBC.

President Trump issued four executive orders July 24 aimed at lowering U.S. drug costs to match their less expensive international prices.

"Overall, I'm disappointed by this executive order," Dr. Bourla said during the call, according to a transcription by The Motley Fool. "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 [is it] imposing socialized medicine to America, it also will create uncertainty and could lead to job losses."

Dr. Bourla's comments come one day after late-stage trials began for BNT162, the experimental COVID-19 vaccine Pfizer is developing with BioNTech.

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