Pressure on the industry was relieved last June, when several reports said the administration was working on an executive order that would have been more friendly than punitive to the pharmaceutical industry, which sent stocks up. The administration hasn’t passed any policy that would directly curb drug prices, and the prospect of price negotiating by the government - one of the industry’s biggest fears - has faded away. On Monday, the shares quickly rebounded from a hiccup, after the president at a swearing-in ceremony for his new health secretary pledged to bring prescription prices “way down.” The contrast highlights a year of threats that have so far resulted in little action. In January 2017, Donald Trump, then president-elect, sank pharmaceutical and biotechnology stocks when he said companies are “getting away with murder” with high drug prices. Trump Threats On Drug Prices Leave Investors Unfazed These Days Every group pushes its own priorities and strategies - a cacophony that makes it unlikely that crushing drug prices will change any time soon. In interviews with STAT, lobbyists, lawmakers, and congressional staffers, Republicans and Democrats alike, said the most powerful health industry players conspicuously disagree about exactly how to move forward. Instead, congressional efforts to lower drug prices are at a total standstill. Last year, the American Medical Association, America’s Health Insurance Plans, and the American Hospital Association together spent more than $45 million lobbying Congress, almost twice what the drugmakers’ group, the Pharmaceutical Research and Manufacturers of America, spent in the same time period. News outlets report on stories related to pharmaceutical pricing.Īmong Those Who Want To Lower Drug Prices, Cacophony, Not Consensus Pharma’s Finger Pointing Game, Congress’ Inaction Among Reasons Drug Prices Haven’t Been Curbed
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