President calls for lower drug prices, more US production

Trump told the drugmakers that pricing had been astronomical

US President Donald Trump on Tuesday called on the pharmaceutical industry to boost US production and lower prices, while also vowing to speed up approval times for new medicines and appoint a new US 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 per cent on average following the president’s remarks, compared with a 0.5 per cent 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