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Clinton’s Drug Proposals ‘Very Negative,’ Pfizer CEO Says

  • Proposal ‘drives you to a one-payer system,’ Read says
  • Presidential Nominee Expresses "Outrage" Over Drug Prices
Democratic presidential nominee Hillary Clinton speaks to the press on Sept. 8, 2016, in White Plains, New York.

Democratic presidential nominee Hillary Clinton speaks to the press on Sept. 8, 2016, in White Plains, New York.

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The head of Pfizer Inc., America’s biggest drugmaker, said that Democratic presidential nominee Hillary Clinton’s proposals to contain the price of pharmaceuticals would be “very negative” for the industry and are a step toward single-payer health care.

Pfizer CEO Ian Read criticized Clinton’s plan, which she released earlier this month, at an investor conference hosted by Wells Fargo in Boston. Clinton’s prescription drug policy would give the government a broad role in overseeing drug prices, including a board to monitor sharp cost increases, and would specifically target price hikes on older medicines.