Pfizer’s stock jumped Tuesday after CEO Albert Bourla and President Donald Trump announced a deal to lower U.S. drug prices and invest $70 billion in domestic manufacturing, while shielding the company from tariffs. Critics blasted the lack of transparency, with watchdog groups filing FOIA requests to uncover the agreement’s undisclosed terms.
Pfizer’s stock “surged” late Tuesday after CEO Albert Bourla announced an agreement with President Donald Trump to lower its U.S. drug prices and invest $70 billion in U.S. manufacturing.
Critics of the deal say the public deserves to know exactly how the company and the government are collaborating.
Trump held a press conference with Bourla on Tuesday, but the president released few details. Under the deal, Trump will refrain from imposing tariffs on Pfizer for three years. Pfizer will boost its domestic manufacturing, make its drugs available to Medicaid at a discounted rate, and sell its products directly to U.S. patients at a discounted rate via the yet-to-be-launched government website, TrumpRX.
The agreement gives Pfizer “certainty and stability” on tariffs and pricing, Bourla said in a press release.
As of press time, neither the White House nor Pfizer provided any further details about the deal. “Specific terms of the agreement remain confidential,” Pfizer’s press release stated.
According to Pfizer, the deal paves the way for the drugmaker to develop new products related to “cancer, obesity, vaccines, and inflammation and immunology.”
Children’s Health Defense (CHD) CEO Mary Holland said it was “troubling” for the Trump administration to keep the details of its agreement with Pfizer confidential. Though arguably legal, the move “completely undermines” the administration’s commitment to transparency, she said, adding:
“The failure to provide any details of the U.S.-Pfizer pricing and tariff exemption deal is even more egregious in light of Pfizer’s long record of past criminal conduct and its knowing role in producing mRNA gene therapies, marketed as vaccines, that caused thousands of deaths and injuries.
“Pfizer knew that its mRNA shots neither stopped infection nor transmission.
“CHD stands firmly for a recall of the mRNA products currently on the market. The Vaccine Adverse Event Reporting System makes perfectly clear that these products are unsafe.”
CHD Chief Scientific Officer Brian Hooker agreed. “There really needs to be a ‘full stop’ with Pfizer, period, given the drugmaker’s duplicitous behavior around the COVID-19 jab.”
The federal government should be investigating Pfizer, not collaborating with it, Hooker said. “No transparency, no deal.”
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