T-Rump Meets Big Pharma

A lot happened in the 2016 campaign, but one of the things Donald Trump did to win the election was shift to the left on a number of key issues — promising to avoid cuts in Social Security and Medicare benefits and adopting a longstanding Democratic pledge to let Medicare negotiate bulk discounts in the price it pays for prescription drugs.

[Tuesday], after a meeting with pharmaceutical industry lobbyists and executives, he abandoned that pledge, referring to an idea he supported as recently as three weeks ago as a form of “price fixing” that would hurt “smaller, younger companies.” Instead of getting tough, Trump’s new plan is that he’s “going to be lowering taxes” and “getting rid of regulations.”

  Vox

What a surprise.

President Trump told pharmaceutical executives Tuesday he wants to lower the price of drugs purchased by the government, and he pledged that his administration will speed up approval times for new medicines.

[...]

Addressing concerns that potential changes could cut into drug companies’ profits, Mr. Trump said the manufacturers will benefit from lower taxes and less red tape.

“We can save tens of billions of dollars, and you people are going to do great,” he told the executives. “I want you to manufacture in the United States. We’re gonna be lowering taxes, big league, we’re going to be getting rid of regulations that are unnecessary, big league.”

The president also said he will insist on trade deals that require other countries to “pay their fair share” of drugs manufactured by U.S. companies.

  Washington Times

Hang on. What are other countries' share of drugs manufactured in the US?

“Foreign price controls reduce the resources of American drug companies to finance drug and R&D innovation. Right now, it’s very unfair what other countries are doing to us.”

Or could it just be that the US alone allows the drug companies to fleece its own citizens?

...but hey, do what you want...you will anyway.