Pfizer stock value dips after Trump's tweet

Pfizer shares sank after President Donald Trump blasted the pharmaceutical giant on Twitter for increasing the price of 100 drugs and treatments, according to The Wall Street Journal.

"Pfizer & others should be ashamed that they have raised drug prices for no reason," President Trump tweeted at 12:08 p.m. July 9.

The company's stock value saw an initial plunge shortly after the tweet on July 9 — but a few hours later, they recovered. The drugmaker's shares were up 0.3 percent at 2:17 p.m. that same day.

President Trump has promised action to combat high drug prices in recent months. In May, the Trump administration issued a 44-page blueprint detailing his strategy to lower prices. Critics said the administration's plan lacks aggressive maneuvers and likely won't help Americans pay less for their prescriptions.

More articles on pharmacy:
Walgreens revamps pharmacist training after woman denied medicine: 7 things to know
Trump calls out Pfizer for price hikes
Pfizer hikes price of 100 drugs

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Featured Whitepapers

Featured Webinars