DRUGS/HHS/PHARMA/TRUMP AS PRESIDENT: “President Donald Trump on Wednesday [5-3018] said he expects major drug companies to slash prices on their products in two weeks, but did not provide details on which companies would do so or the means by which they would provide such reductions…A Health and Human Services Department (HHS) spokeswoman said the agency had nothing else to share on Trump’s comments because it didn’t want to get ahead of any announcements. Earlier this month, Trump unveiled the administration’s plan to lower prescription drug prices, largely through regulatory authority, calling it ‘the most sweeping action in history’ to reduce the cost of medicines for consumers. But healthcare stocks rose as it became clear his administration avoided aggressive direct measures to cut prices. HHS has yet to issue any new regulations or pilot programs to lower drug prices based on the new plan.”
-Yasmeen Abutaleb, Steve Holland, “Trump says drug companies to announce ‘massive’ price cuts soon,” Reuters. May 30, 2018 9:59 am