Trump pushes drugmakers for lower prices, more U.S. production

[DonViejo]

Source: Reuters



By Roberta Rampton | WASHINGTON

U.S. President Donald Trump on Tuesday called on the pharmaceutical industry to boost U.S. production and lower prices, while also vowing to speed up approval times for new medicines and appoint a new U.S. Food and Drug Administration leader soon.

Shares of five of the six drug companies at the White House meeting with Trump were up more than 1 percent on average following the president's remarks, compared with a 0.5 percent drop in the broad S&P 500. The Nasdaq Biotech Index was up 1.1 percent, reversing earlier losses, and the S&P 500 health care index gained 0.7 percent.

Attending the meeting were the CEOs of Novartis AG, Merck & Co Inc, Johnson & Johnson, Celgene Corp, Eli Lilly & Co and Amgen Inc as well as the head of the Pharmaceutical Research and Manufacturers of America lobbying group.

Trump told the drugmakers that pricing had been "astronomical."

Read more: http://www.reuters.com/article/us-usa-trump-pharmaceuticals-novartis-idUSKBN15F13K

[Javaman]

1. I will commence with the ceremonial holding of the breath now. nt

[JHan]

2. Either Trump is lying or he doesn't understand why pharma prices are so high...

Cutting regulations will not reduce costs: Regulatory reform doesn't equal "cutting" regulations.

He just wants to weaken the FDA.

[mobeau69]

3. The few non-crazy pukes that are left have gotta be loving this kind of talk. Bahahahahahaha!

[Blue Idaho]

4. Esp. Opiates...

Let's pump the masses full of cheap opiates so they just don't care what the fascists do.

[lark]

5. I bet it was a total shake-down.

Like you have to lower costs or do something to make it worth my while to drop this. Pay me the $$ and this will go away because I'll be happy with the extra $ or cut prices and "my people" will love me and I'll get more $$ that way. Your choice.

Can't you just see it?

[spiderpig]

6. There must be some cash in it for him n/t