Pfizer CEO warns German investment at risk over drug pricing policies

LONDON/FRANKFURT - Pfizer is reviewing the timing and scope of planned investments in Germany, CEO Albert Bourla said in a letter to Chancellor Friedrich Merz, citing the government's policy proposals that would lower drug prices.

The letter, dated June 9 and seen by Reuters on Wednesday, was first reported by German business newspaper Handelsblatt.

Bourla wrote that the proposals call into question the predictability required for the pharmaceutical industry's long-term investment decisions.

"As a result, we are reviewing our external engagements as well as the timing, scope, and future prioritization of certain planned investments in Germany," the letter read.

It comes the week after ⁠U.S.-based Eli Lilly said it would halve its $2.3 billion ​investment in Germany and German drugmaker Boehringer Ingelheim scrapped ​its €900 million plans, both citing the government's planned healthcare cost-cutting measures.

(Reporting by Maggie Fick and Bhanvi Satija in London, and Patricia Weiss in Frankfurt. Editing by Andrew Heavens and Mark Potter)

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This story was originally published June 10, 2026 at 4:55 AM.