In case you haven’t already seen the quotes, Donald Trump took aim at the pharmaceutical industry in a press conference this afternoon, sending bio/pharma stocks reeling initially:
“We have to get our drug industry coming back. Our drug industry has been disastrous. They’re leaving left and right. They supply our drugs, but they don’t make them here, to a large extent. And the other thing we have to do is create new bidding procedures for the drug industry, because they’re getting away with murder. Pharma has a lot of lobbies and a lot of lobbyists and 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. And we’re going to start bidding, and we’re going to save billions of dollars over a period of time. And we’re going to do that with a lot of other industries.”
Underlined is the concerning facet for the pharma industry. Trump is hinting that healthcare reform may include capabilities or tools to give the U.S [government? citizens? Medicare? Not clear] more negotiating power [bidding].