American pharmaceutical companies are intensifying their efforts to drive up drug prices in Europe, in some cases threatening to withhold new medications from the continent if European lawmakers refuse to agree to price increases.

Pfizer CEO Albert Bourla stated that the pricing agreement his company reached with US President Trump last year is forcing it to raise drug prices abroad.

"When we do the math, is it better to cut the price in the US to the French level, or to stop supplying France? We chose to stop supplying France," Bourla told reporters this week at the J.P. Morgan Healthcare Conference.

"So they will not get new medicines. The system will force us not to accept lower prices."

Other pharmaceutical executives at the conference indicated they are quietly considering delaying or suspending drug launches in Europe.

Last year, Trump demanded that drugmakers significantly lower US drug prices or face tariffs. As of this month, 16 global pharmaceutical companies—from AstraZeneca to Roche's Genentech—have agreed to reduce their US drug prices. These voluntary agreements with the White House require companies to align the prices of certain drugs in the US with those in other developed nations, such as Canada, Europe, and Japan.

Trump hailed these agreements last Friday as "weapons" to pressure Europe into raising its drug prices. "We've gone from a terrible situation on prescription drugs to the lowest drug prices anywhere in the world," he said.

As the agreements with Trump take effect, pharmaceutical executives are increasing pressure on Europe and other countries to raise drug prices, aiming to offset potential revenue losses in the US market.

Last year, Bristol Myers Squibb threatened to halt the launch of its blockbuster schizophrenia drug in the UK if the country did not agree to a price increase. In December, the UK committed to a deal with the US to raise drug prices.

In an interview, BMS Chief Commercialization Officer Adam Lenkowsky expressed that the UK's agreement is still insufficient.

"It's a positive step, but I think there's still a long way to go."

Gilead CEO Daniel O'Day stated that his company's pricing agreement "really gives us the opportunity to rebalance global drug pricing."

European nations, with their government-run healthcare systems, have long been able to compel pharmaceutical companies to accept lower prices. In contrast, the US has a mix of private and public healthcare providers that do not negotiate drug prices collectively.

As drugmakers push for higher prices, Germany's largest public health insurer, Techniker Krankenkasse (TK), has asserted that drug prices are already excessively high.

"We are clearly paying too much in Germany," said TK CEO Jens Baas.

"The German legislature must take action and urgently implement measures to reduce spending, particularly in the area of patented medicines."

Baas argued that higher drug prices are unlikely to stimulate the German or European economies. "They will only increase the profit margins of pharmaceutical companies and add to the burden on those enrolled in the statutory health insurance system."

TK declined to comment on the pharmaceutical executives' statements regarding drug pricing.

Analysts suggest that these tensions could lead to delays in drug launches across Europe.

According to Will Humphrey, a Vice President at Capstone, drug launches in Europe typically occur about a year later than in the United States.

"All of this reminds me of Trump's approach to NATO," he said, referring to US pressure on allies to increase defense spending.

"These European countries don't have significant budget surpluses that they can immediately use to increase spending on drug pricing. They will have to find a way to accommodate some of the Trump administration's priorities, or these pharmaceutical companies may delay their launches."