President Donald Trump has big plans for the way we price our drugs.
“I am working on a new system where there will be competition in the Drug Industry,” Trump tweeted Tuesday. “Pricing for the American people will come way down!”
What that new system might look like isn’t clear, but biotechnology stocks were down about 1% Tuesday morning.
Trump has been speaking about drug prices since December, specifically addressing the rising costs of prescription drugs that consumers have been facing in the last few years. At a January news conference, Trump said drugmakers are “getting away with murder,” and expressed an interest in negotiating drug prices, something the government isn’t allowed to do for Medicare and Medicaid.
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