President Trump on Tuesday told a group of drug company executives gathered for a meeting at the White House that they need to “get prices down.”
“You folks have done a tremendous job but we have to get prices down,” Trump said, according to a pool report.
Trump has been a critic of high drug prices, and has endorsed measures like allowing Medicare to negotiate prices.
But the president also called for reducing regulations to allow for faster approvals of new drugs and to allow drug companies to bring jobs back to the US.
“We’re going to be cutting regulation at a level nobody’s ever seen before,” Trump said in the meeting with executives.
“You can’t get approval for the plant and then you can’t get approval to make the drug, other than that you’re doing fantastic,” he said.
Trump called drug prices “astronomical.”
“US drug companies have produced extraordinary results for our country, but the pricing has been astronomical for our country,” he said.
Still, he also offered to make the Food and Drug Administration’s approval of new drugs “much faster.”
Full Content: The Hill
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI