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Trump slams Pfizer after July 1 drug price hikes

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By Michael Erman and Susan Heavey

NEW YORK/WASHINGTON (Reuters) – U.S. President Donald Trump on Monday took aim at Pfizer Inc and other U.S. drugmakers after they raised prices on some of their medicines on July 1, saying his administration would act in response.

“Pfizer & others should be ashamed that they have raised drug prices for no reason.” Trump wrote in a post on Twitter on Monday. “We will respond!”

Health and Human Services Secretary Alex Azar followed up with his own tweet saying that drugmakers who have raised prices have created a tipping point in U.S. drug pricing policy.

“Change is coming to drug pricing, whether painful or not for pharmaceutical companies,” Azar wrote.

Neither Trump nor Azar detailed what policy changes would be implemented to decrease prices.

Trump had said in May that some drug companies would soon announce “voluntary, massive” cuts in prices, but none have materialized yet. During his presidential campaign, he promised lower U.S. drug costs.

Pfizer raised list prices on around 40 medicines earlier this month. Those include Viagra, cholesterol drug Lipitor and arthritis treatment Xeljanz, according to Wells Fargo. List prices do not include rebates and discounts drugmakers may offer.

“The list price remains unchanged for the majority of our medicines. Our portfolio includes more than 400 medicines and vaccines. We are modifying prices for approximately 10 percent of these, including some instances where we’re decreasing the price,” Pfizer spokeswoman Sally Beatty told Reuters.

Pfizer’s stock fell after Trump’s tweet – they closed up 5 cents at $37.16, but had been trading at $37.44 just before the tweet.

Pfizer was not the only major drug company to raise prices after Trump suggested they would voluntarily slash prices. Israeli generic drugmaker Teva Pharmaceutical Industries Ltd hiked prices on 14 drugs in June and Roche Holding’s Genentech division raised prices on a number of its drugs on July 1, according to Wells Fargo.

Teva and Roche could not be immediately reached for comment.

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Israel says it has conducted ‘wide-ranging’ air strikes against Hamas

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Israeli aircraft and tanks hit targets across the Gaza Strip Friday after shots were fired at troops on the border, the army said, with Hamas reporting three members of its military wing killed.

An army statement said shots were fired at troops during renewed protests along the Gaza-Israel frontier and “in response, (Israeli) aircraft and tanks targeted military targets throughout the Gaza Strip.”

The IDF says its warplanes have carried out ‘wide-ranging’ air strikes against Hamas targets in Gaza, in response to the earlier gunfire.

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US Secretary of State Pompeo demands “full enforcement of sanctions” on North Korea

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U.S. Secretary of State Mike Pompeo told United Nations Security Council envoys on Friday that there needs to be “concrete actions” by North Korea before an easing of sanctions on Pyongyang can be discussed, said Dutch U.N. Ambassador Karel van Oosterom.

“The secretary made very clear we need concrete deeds, concrete actions and only then we can start the discussion,” van Oosterom told reporters after Pompeo informally briefed envoys from the 15-member council, Japan and South Korea behind closed doors at the South Korea U.N. mission.

(New York Times)

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Michael Cohen Secretly Taped Trump Discussing Payment to Playboy Model

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 President Trump’s longtime lawyer, Michael D. Cohen, secretly recorded a conversation with Mr. Trump two months before the presidential election in which they discussed payments to a former Playboy model who said she had an affair with Mr. Trump, according to lawyers and others familiar with the recording.

The F.B.I. seized the recording this year during a raid on Mr. Cohen’s office. The Justice Department is investigating Mr. Cohen’s involvement in paying women to tamp down embarrassing news stories about Mr. Trump ahead of the 2016 election. Prosecutors want to know whether that violated federal campaign finance laws, and any conversation with Mr. Trump about those payments would be of keen interest to them.

The recording’s existence further draws Mr. Trump into questions about tactics he and his associates used to keep aspects of his personal and business life a secret. And it highlights the potential legal and political danger that Mr. Cohen represents to Mr. Trump. Once the keeper of many of Mr. Trump’s secrets, Mr. Cohen is now seen as increasingly willing to consider cooperating with prosecutors.

Rudolph W. Giuliani, Mr. Trump’s personal lawyer, confirmed in a telephone conversation on Friday that Mr. Trump had discussed the payments with Mr. Cohen on the tape but said the payment was ultimately never made. He said the recording was less than two minutes and demonstrated that the president had done nothing wrong.

“Nothing in that conversation suggests that he had any knowledge of it in advance,” Mr. Giuliani said, adding that Mr. Trump had directed Mr. Cohen that if he were to make a payment related to the woman, write a check, rather than sending cash, so it could be properly documented.

“In the big scheme of things, it’s powerful exculpatory evidence,” Mr. Giuliani.

Mr. Cohen’s lawyers discovered the recording as part of their review of the seized materials and shared it with Mr. Trump’s lawyers, according to three people briefed on the matter.

“We have nothing to say on this matter,” Mr. Cohen’s lawyer, Lanny J. Davis, said when asked about the tape.

(New York Times)

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