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.

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