Trump says drug companies are 'getting away with murder'
In his first press conference in over 100 days, President-elect Donald Trump promised to go after the pharmaceutical industry.
Drug companies, he said, "are getting away with murder." He said this was because they have "lots of lobbyists" doing their bidding. He also complained about the US government's inability to negotiate prices despite being the biggest purchaser of drugs in the world.
"We are going to change the bidding process," he said.
Wall Street has been declaring pharma a winner of the US Presidential campaign since Trump's victory last November, but this shows that the Street's optimism was misplaced. Democratic candidate Hillary Clinton was far more outspoken in her outrage over high drug prices.
The NASDAQ's Biotechnology index is falling on Trump's words.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- India not benefiting from democratic dividend; young have a Kohli mentality, says Raghuram Rajan
- Indo-Gangetic Plains, home to half the Indian population, to soon become hotspot of extreme climate events: study
- 7 Vegetables you shouldn’t peel before eating to get the most nutrients
- Gut check: 10 High-fiber foods to add to your diet to support digestive balance
- 10 Foods that can harm Your bone and joint health
- 6 Lesser-known places to visit near Mussoorie