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Trump blasts drugmakers, middlemen for high U.S. drug prices
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| Contributor | RP |
| Last Edited | RP May 11, 2018 02:23pm |
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| Category | Speech |
| Author | Yasmeen Abutaleb |
| News Date | Friday, May 11, 2018 06:30:00 PM UTC0:0 |
| Description | U.S. President Donald Trump on Friday blasted drugmakers and healthcare “middlemen” for making prescription drugs unaffordable for Americans, but healthcare stocks rose as it became clear the administration had avoided taking aggressive and direct measures to cut drug prices.
The president has already abandoned ideas to lower drug prices that he supported during the 2016 election campaign, including allowing the government’s Medicare plan for older Americans to negotiate prices directly with drugmakers.
Critics say the Trump administration has been swayed by the powerful pharmaceutical lobby, which increased its reported spending in Washington by 30 percent last year. Trump’s Health and Human Services Secretary Alex Azar is a former Eli Lilly & Co executive. |
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