Pharma markets increasingly ignore Trump pricing rhetoric

In a sign that pharma investors are becoming increasingly inured to outpourings from US President Donald Trump around drug pricing, markets were unrattled on Monday by a furious tweet singling out New York’s Pfizer (NYSE: PFE).

Referring to the the pharma major’s recent decision to increase the price of 100 products from the start of July, he said: "Pfizer & others should be ashamed that they have raised drug prices for no reason.”

The price hikes, revealed by the Financial Times, are mostly in excess of 9%, well above the 2% US inflation rate. Mr Trump tweeted, “They are merely taking advantage of the poor & others unable to defend themselves.”