Big Pharma Boss Joins Trump Fundraiser Amid Drug Price Fight

Albert Bourla, the CEO of Pfizer, is set to attend a high-profile fundraiser at President Trump's golf club in Bedminster, New Jersey. The event, organized to support the pro-Trump group MAGA Inc. , aims to raise a whopping $25 million. This comes just a day after Trump sent letters to major drug companies, including Pfizer, demanding lower drug prices in the U. S. to match those in other countries. The letters, sent to 17 pharmaceutical companies, asked for commitments within 60 days to sell drugs for Medicaid patients and new drugs at "most favored nation" rates. Trump posted images of these letters on Truth Social. This move follows an executive order he signed in May, directing federal officials to develop regulations for these rates unless drug companies made progress on cutting prices. Trump accused the drugmakers of not delivering on their promises since then. In a recent interview with Newsmax, Trump claimed he's "gone to war with the drug companies" and other countries over drug prices. He boldly predicted that drug prices could drop by as much as 1, 200 percent. The high cost of prescription drugs has been a long-standing issue, with proposals to tie U. S. drug prices to lower rates in other developed countries facing legal challenges. Drugmakers argue that price caps could hinder innovation by making it difficult to fund research and development. They also point out that Americans often have access to more advanced drugs compared to countries with stricter price regulations. However, they acknowledge that high drug prices are part of a broader trend of rising healthcare costs in the U. S. Bourla has had interactions with Trump before. Pfizer was part of the "Operation Warp Speed" initiative under Trump's administration to rapidly develop COVID-19 vaccines. Additionally, Bourla and other Pfizer executives met with Trump at Mar-A-Lago just before his second inauguration, as reported by the Financial Times. The high cost of prescription drugs has been a contentious issue for decades, with both political parties struggling to find a solution. While proposals to link U. S. drug prices to lower international rates have been discussed for years, they have faced legal and industry resistance. The debate continues as drugmakers and policymakers grapple with the balance between affordability and innovation.