Pfizer (NYSE:PFE) CEO Albert Bourla said on Tuesday that he and other pharma executives discussed President Donald Trump’s recent call for big pharma to offer direct-to-consumer marketing as part of his Most Favored Nation policy.
Bourla made the remarks during the company’s Q2 earnings call days after Trump issued him and 16 other pharma executives letters urging them to take multiple measures, including DTC launches at MFN prices, in a bid to lower U.S. drug prices to the level of other developed nations.
All are “ready to roll up their sleeves and execute” on it, said Bourla referring to the discussions. The New York-based pharma giant recently announced a DTC initiative with Bristol Myers (BMY) to offer their blood thinner Eliquis at a 40% discount to cash paying customers.
Bourla, who also serves as the chair of the pharma trade group Pharmaceutical Research and Manufacturers of America (PhRMA), added that he has directly talked to Trump regarding MFN and tariffs since “we have a special relationship through the times of Covid.”
During the pre-market, the COVID-19 vaccine maker reported better-than-expected financials for the second quarter and raised its full-year earnings outlook to a level in line with the consensus.