Ian Read, the CEO for pharmaceutical giant Pfizer, plans to step aside at the end of this year and hand his position to Albert Bourla, the company’s chief operating officer.
The change in leadership is coming at a time when the pharmaceutical industry is under scrutiny by the White House and Congress for price hikes. President Trump specifically called out Pfizer in July for raising its list prizes, saying it and other companies “must be ashamed.” In response, Pfizer delayed planned price increases on dozens of products until the end of the year.
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