Trump tweets a new vow to spur competition in the pharma biz, slashing prices
President Trump has a reminder for the biopharma industry today: He hasn’t forgotten you or the controversy over drug prices.
I am working on a new system where there will be competition in the Drug Industry. Pricing for the American people will come way down!
— Donald J. Trump (@realDonaldTrump) March 7, 2017
This latest tweet from the president of the United States underscores Trump’s repeated insistence that the federal government can ratchet down healthcare prices by fostering competition.
Trump proved that he can still send a jolt through industry shares. Both the IBB and XBI dropped more than a point on the tweet, then started recovering somewhat. The president’s social media pronouncements don’t have the same bite as we saw in the days after his inauguration.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.