Business Standard

Pharma companies 'getting away with murder', says Trump

Comments knocked down shares of US biotech and pharmaceutical makers by about 2%

Donald Trump, Trump, pharma, Trump Tower
Premium

US President-elect Donald Trump speaks during a press conference in Trump Tower, Manhattan, New York, US, January 11, 2017 (Photo: Reuters)

Reuters
US President-elect Donald Trump on Wednesday said pharmaceutical companies are "getting away with murder" in the prices that they charge the government for medicines, and promised that would change.

Trump has made few public comments about drug pricing since he was elected but his campaign platform had included allowing the Medicare healthcare program to negotiate with pharmaceutical companies, which the law currently prohibits.

The comments knocked down shares of biotech and pharmaceutical makers by about 2 per cent.

"We are going to start bidding. We are going to save billions of dollars over time," Trump said.

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in