He called the program a “complete and total disaster” and pledged to “repeal and replace” the law; the system, Trump said, is “imploding”.
Advertisement
Health-care investors got an ugly preview Wednesday of what the next four years might look like. While votes on most amendments to the budget resolution went along party lines Wednesday night and Thursday morning, 12 Republicans supported the drug-import measure, with 13 Democrats opposed.
The remarks sent other health care stocks lower as well. Then the bomb dropped. But the big bombshell was this: He hinted that maybe the USA ought to actually negotiate for a better price on the drugs “Big PhRMA” sells to the government.
While speaking on bringing back companies to the U.S., Trump spoke extensively about the drug industry and said that the industry has been “disastrous” with drugs being supplied in the U.S. but not being made here to a large extent. He promised the government would “save billions of dollars”.
Trump held a press conference yesterday in which he briefly discussed drug prices, a topic that is concerning for many Americans. Trump, Akahane added, has yet to go into detail about his health plans. Still, he has begun to outline broad priorities for an industry that’s more closely tied to the government than any sector other than defense.
The position of drugs upon this spectrum of complex to commodified markets is debatable.
At the same time, Trump has identified a legitimate concern for consumers. He accused the industry of “getting away with murder”.
After outlining what he said were his successes in bringing back manufacturing to the United States, he turned on the pharmaceutical industry. Astellas makes 33% of its sales in the U.S.
The pharma and medtech sectors are critically important to Ireland, employing nearly 50,000 people between them, according to IDA Ireland figures.
Oh, the power of a Donald Trump sound bite.
At the same time, executives have noted possible benefits a Trump presidency could bestow upon their businesses: lower taxes, especially repatriation, less regulation, and the general sense that Republicans won’t mess with a “free market”. And his comments, some have noted, also strike a familiar chord to Hillary Clinton’s comments on price gouging during the presidential campaign.
Advertisement
Trump said that many companies were “getting away with murder” and that there would be more competitive bidding practices for federal contracts in his administration.
