PEO­TUS Don­ald Trump vows to rein in drug prices, slam­ming biotech stocks

Don­ald Trump has turned up on the cov­er of Time mag­a­zine, and he has a big mes­sage for the bio­phar­ma in­dus­try:

“I’m go­ing to bring down drug prices,” he told Time, which de­clared the pres­i­dent-elect as their Per­son of the Year. “I don’t like what’s hap­pened with drug prices.”

That’s all we know right now. There’s no plan tied to it. No dis­cus­sion about get­ting Medicare to ne­go­ti­ate prices of reim­por­ta­tion from Cana­da, which drew some soft sup­port dur­ing the elec­tion. And in­vestors re­act­ed swift­ly, dri­ving down the NAS­DAQ biotech in­dex by 3%.

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