The Trump Effect: Lower Drug Prices

President Donald Trump’s campaign promises already have convinced drug companies to lower prices and increase transparency.

In January, Trump put the pharmaceutical industry on notice that drug prices were too high. President Trump explained that drug companies were “getting away with murder.” Trumpadded, “PhRMA has a lot of lobbies, a lot of lobbyists, a lot of power. And there’s very little bidding on drugs. We’re the largest buyer of drugs in the world, and yet we don’t bid properly. We’re going to start bidding. We’re going to save billions of dollars over a period of time.”

Later that month, the president argued that the federal government could save $300 billion if it could negotiate drug prices.

President Trump explained in an interview with Time magazine, which named him “Person of the Year,” that he intended to lower drug prices. Trump said, “Well actually the drug companies haven’t done well. I saw the other day the drug companies have not gone up very much. Because I’m going to bring down drug prices. I don’t like what’s happened with drug prices.”

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