Trump pushes drugmakers for lower prices, more U.S. production

Shares of most of the group rallied on Tuesday following the meeting, even as the broader stock market slid.
The meeting between Trump and the pharmaceutical executives signaled a defusing of tensions that have kept drug stock prices in check since the presidential election.

U.S. President Donald Trump in a meeting on Tuesday with pharmaceutical executives called on them to manufacture more of their drugs in the United States and cut prices, while vowing to speed approval of new medicines and ease regulation.

Trump told them the government was paying “astronomical” prices for medicines in its health programs for older, disabled and poor people and said he would soon appoint a new U.S. Food and Drug Administration leader.

“We’re going to streamline the FDA,” Trump said in a statement, referring to the regulatory agency responsible for vetting that new drugs are safe and effective. Full Story

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