Trump’s warning shot for the drug industry.
President Donald Trump is starting his rally against the pharmaceutical industry. Following through on one of the many pro-business promises he made all along the campaign trail. Pharmaceutical companies, which he boldly described as “getting away with murder,” are in the cross-hairs as Trump called for “new bidding procedures” to lower drug costs and presumably end the Big Pharma monopoly that has been strangling American healthcare for decades.
“Pharma has a lot of lobbyists and a lot of power,” the President proclaimed before an eager press pool, “and there’s very little bidding. We’re the largest buyer of drugs in the world and yet we don’t bid properly.”
The United States is currently the largest buyer of pharmaceutical drugs in the world, and yet prices are completely out of control. Trump reiterated the need to rethink the way our country buys and sells drugs to help lower costs in the public interest. Trump would like to see this change by using simple competitive market forces, a position that appeals to a strong public sentiment that Big Pharma has been getting away with far too much for far too long.
While these words by Trump might come as a warning shot for the drug industry, they are music to the ears of the American public. Tackling the Big Pharma monopoly has been a key priority for voters on both sides of the aisle for many years, explaining why former presidential candidates Hillary Clinton and Bernie Sanders also took aim at drug industry price-gouging and other anti-consumer tactics while on the campaign trail.