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

A logo for Pfizer is displayed on a monitor on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July 29, 2019. REUTERS/Brendan McDermid/Files

(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