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Pharmaceutical companies prepare for change amid criticism by Trump

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 CSB    1,706

Pharmaceutical companies prepare for change amid criticism by Trump

By Carolyn Y. Johnson, Washington Post Wednesday, January 11, 2017

At his first press conference as president-elect, Donald Trump accused the pharmaceutical industry of "getting away with murder" and said that he would change the way the country bids on drugs to bring spending and prices down.

"Pharma has a lot of lobbies, a lot of lobbyists and a lot of power. And there's very little bidding on drugs. We're the largest buyer of drugs in the world, and yet we don't bid properly," Trump said.

Federal law forbids the government from negotiating with drug companies to bring down the price of drugs for seniors using Medicare. While Trump did not announce a specific plan, he has in the past called for changing the policy to allow Medicare to negotiate on drug prices.

The comment dropped a bomb into the middle of the drug industry's major annual investor conference, underway in San Francisco this week, sending pharmaceutical and biotech stocks plunging. The iShares NASDAQ Biotechnology Index was down 2.7 percent in mid-day trading. Executives and analysts immediately began to debate the extent to which Trump's comments are a specific policy proposal, or a warning shot.

Read the whole post here : http://www.tampabay.com/news/health/medicine/pharmaceutical-companies-prepare-for-change-amid-criticism-by-trump/2309267

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Sulie   
Sulie

Dealing with big Pharma is one of the issues to any health care plan. That and what Dr' s and hospitals freely charge. Its about time, root problems were addresses in all of this.

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 Cinnamon    16,461
22 minutes ago, Jostler said:

scurrying rats everywhere!  lovin' it :)

And they're going to end up here! 

 

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 Jostler    2,212

Big Pharma is one of the big elite profit/control centers, so it couldn't happen to a nicer set of rats :)  Well...maybe the Goldmanite rats.

 

I like those traps too.  Makes the rats all hopeful I'm going to truck them off somewhere and release them all kindly like.  Right up 'til the moment I throw the cage into that 55 gal barrel of water I set aside just for that purpose :)

You hearin' me Obama?

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