The illusion of lower drug prices

President Trump shaking hands with Ian Read, CEO of Pfizer.
President Trump shakes hands with CEO of Pfizer, Ian Read. Photo: Saul Loeb/AFP/Getty Images

The bully pulpit is not, in fact, putting much of a dent in drug prices. But it's at least providing an illusion of lower prices.

The intrigue: Pfizer said yesterday that after "an extensive conversation with President Trump," it would "defer" the price increases it imposed on July 1, "to give the president an opportunity to work on his blueprint."