Trump tells drug-company execs to drop prices, promises to cut regulations

washingtontimes.com ^ | 1/31/17 | Dave Boyer

[Lou L]

No, I'm not arguing for protectionism. I would love it if governments got out of the habit of intervening in the free market, or at least if they didn't get to dictate all the terms. Governments approve medicines, and then they purchase those medicines (through various insurance and socialized programs), but those approvals and purchases come with terms. The pharmaceutical industry is always free to keep a product off the market, but who wants to do that? Why would we spend all the time and resources to develop a life-saving drug, only to keep it off the market?

If Trump can break down the walls a bit and truly get other countries to pay more for their US-made drugs, it'll be a good thing for US consumers. I think that's going to be a harder sell than he thinks, and as an industry, we'll be actively watching and participating in shaping any new legislation.

But don't think that because you might be able to get medicines more cheaply in other countries, it's because Pharma wants to screw over Americans.