July 28, 2020 / 2:57 PM / 16 days ago

Pfizer rethinking U.S. expansion if drug pricing orders implemented

FILE PHOTO: A man walks past a sign outside Pfizer Headquarters in the Manhattan borough of New York City, New York, U.S., July 22, 2020. REUTERS/Carlo Allegri/File Photo

(Reuters) - Pfizer Inc (PFE.N) Chief Executive Albert Bourla said the drugmaker could rethink plans to expand in the United States if the country implements an executive order signed by President Donald Trump last week that would tie the prices Medicare patients pay for drugs to those paid by other countries.

Trump on Friday signed four executive orders aimed at lowering the prices Americans pay for prescription drugs, as he faces an uphill re-election battle and criticism over his handling of the coronavirus pandemic.

“These new executive orders could force us to rethink those plans, consider job reductions and add to the economic and health anxiety already widely felt in our country,” Bourla said on the company’s earnings conference call.

Reporting by Michael Erman; Editing by Chris Reese

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