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Home Main Forums General Discussion OK NOW! – Trump Says Pharmaceutical Companies ‘Getting Away With MURDER’

  • Segami (4126 posts)
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    OK NOW! – Trump Says Pharmaceutical Companies ‘Getting Away With MURDER’

    …..This is definitely a major step in the right direction but with Trump, I will wait to see if his rhetoric matches his actions…….

     

     

    U.S. President-elect Donald Trump on Wednesday said pharmaceutical companies are “getting away with murder” in what they charge the government for medicines, and promised that would change. After his remarks, the Ishares Nasdaq Biotech ETF dropped 4 percent at its session low and was on track for its largest daily percentage drop since late June. Trump has blasted other industries for charging the government too much, particularly defense companies Lockheed Martin Corp and Boeing Co, but has made only a few public statements about drug pricing since being elected.

     

    After his promise during a news conference, the ARCA pharmaceutical index fell 2 percent as Pfizer Inc gave up 2.6 percent and Johnson & Johnson fell 1 percent. Biotech Gilead Sciences Inc fell 2.3 percent. The drug industry has been on edge for two years about the potential for more government pressure on pricing after sharp increases in the costs of some life-saving drugs drew scrutiny in the press and among lawmakers. The government is investigating Medicaid and Medicare overspending on Mylan NV’s allergy treatment EpiPen, for instance.

     

    Trump’s campaign platform included allowing the Medicare healthcare program to negotiate with pharmaceutical companies, which the law currently prohibits, and he has also discussed making it easier to import drugs at cheaper prices.

     

    “We are going to start bidding. We are going to save billions of dollars over time,” Trump said.

     

    Medicare, which covers more than 55 million elderly or disabled Americans, spends hundreds of billions of dollars on drugs every year. Industry trade group Pharmaceutical Research and Manufacturers of America did not have an immediate comment.

     

     

    cont’

    http://www.rawstory.com/2017/01/trump-says-pharmaceutical-companies-getting-away-with-murder/

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22 replies
    • Rozinante (2957 posts)
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      1. If he follows up on his rhetoric , I'll applaud him.

      Not going to hold my breath however.  Seldom has a POTUS followed through with their promises, and that includes the outgoing one.

      • ThouArtThat (4072 posts)
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        2. If The Man Does Something Good – Praise Be For That Action

        eom

        "In America Today, Power Corrupts and Money Corrupts Absolutely" - Anonymous  
        • avaistheone1 (1003 posts)
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          8. Indeed. Regardless of party, sex, race, religion or social status

          when  someone does something good praise them for it.

          K&R

           

            I'm not a conspiracy theorist - I'm a conspiracy analyst.   Gore Vidal      
      • Segami (4126 posts)
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        3. I'm with you on not holding my breath unless I have a death wish…..lol!

        ….but I will give him full praise if he follows through on this promise. Big Pharma licked their chops knowing they had the Queen in their pockets and were probably ramping up some future legislation (which you and I would have never seen) that favored their monopolized system of pimping their products.

        • MistaP (5305 posts)
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          9. plus it keeps it in the political discourse; like all the jobs he brags falsely

          keeping in the country

          Obama never bragged about keeping job at home, because he was a neolib and wouldn’t have seen that as a political or economic advantage; when was the last time he damned high drug prices?

          that’s how a heel works–they can pretend to be outrageously unacceptable, they can pretend to be convinced to do something by the audience’s boos

          meanwhile the opposition is leaving itself open to ridicule as protesting in the streets for war with Russia and outsourcing

          http://www.salon.com/2016/11/09/the-hillary-clinton-campaign-intentionally-created-donald-trump-with-its-pied-piper-strategy/ (Third Way = Bell Curve)
        • goodgirl (2185 posts)
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          14. I feel like praising him for at least making them squirm a little bit.

          I hope some of those pharma CEO’s had to take some of their sleeping pills tonight, or maybe some anxiety meds or pills for heartburn.

          :rofl:

          Mankind must put an end to war before war puts an end to mankind.    John F. Kennedy
    • Segami (4126 posts)
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      4. "…Every now and then in the ceaseless blather…..

      “….that erupts from Donald Trump’s mouth and Twitter account, he stumbles upon an idea that can appeal to progressives, rather than the regressive, right-wing ilk he represents. This is exactly what happened during the earlier part of his press conference held on Wednesday when Trump called out the Big Pharma industry and its tendency to inflate drug prices beyond belief. Trump said that the companies are “getting away with murder,” and that under his administration, the pharmaceutical companies would be getting paid less thanks to “bidding wars.”

       

      This is an issue that progressives have heard from Senator Bernie Sanders and many other progressive voices, but not something we would expect to hear from the PEOTUS. Much like his view on the Trans Pacific Partnership, Trump does not always ascribe to party lines, and in doing so, comes off as a bit more sane.

       

      Of course, action is worth much more than words for the President-elect, and considering how he has surrounded himself with nothing but corporate cronies, the chances that he will follow through on this plan to regulate the pharmaceutical industry are slim. Still, if we can hope, maybe there will be small measures of good among the sea of bad that is Donald Trump, starting with this apparent dedication to lowering prices of vital pharmaceuticals.

       

      https://trofire.com/2017/01/11/deplorable-don-makes-good-observation-big-pharma-price-gouging/

    • GZeusH (1703 posts)
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      5. Isn't that what Bernie does?

      Rail against BigPharma and make their stock price drop?  I wonder if these two are in cahoots.

       

      Let me rephrase that.  I HOPE these two are in cahoots AND CHANGE the system for the better.   Might be 8 years late, but maybe we will get some HOPE&CHANGE after all.

      Policy:  The mistaken notion that bossy people have that they can influence other people's behavior through majority rule.
    • JoeFin (557 posts)
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      10. His GOP handlers won't allow it

      Talk is cheap Wizzinator

      • disillusioned73 (347 posts)
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        17. That is exactly..

        what I was thinking… I guess we’ll see fairly soon.

          "Certainly there are some people in the Democratic Party who want to maintain the status quo. They would rather go down with the Titanic so long as they have first-class seats." - Bernie Sanders
    • NuttyFluffers (1774 posts)
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      13. "leave Big Pharma alone! you big bully!"

      again, simple minds will be terribly dizzy trying to dogmatically adhere to “my enemy’s enemy is my friend” strategy.

      sometimes it’s “when they tear each other apart, sit back and enjoy the show.”

      there’s even a chance your patience may open a beneficial opportunity. 

    • Babel 17 (2580 posts)
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      15. It could be a way to balance the books of a new health insurance program

      And it could also serve as a bargaining chip when negotiating with Pharma’s friends in Congress. Deja vu all over again as we saw the administration of President Obama come to a meeting of minds with Pharma prior to the ACA getting passed. They got mostly left alone, and in exchange they declared the ACA to be a swell idea which everyone should get behind. IIRC.

      Who knows, after some dickering, and accepting a compromise, Big Pharma might declare Trumpcare to be just the ticket to make health care great again.

      It’s  good thing to put a spotlight on Big Pharma, so that’s something.

    • Dont call me Shirley (3107 posts)
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      18. THEY ARE! Listen to Mike Pappantonio.

    • B Calm (810 posts)
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      19. I bet that pissed off the conservadems!

      “When I was a kid growing up, I think my instincts always were for the underdog.” – Bernie Sanders    
    • Jefferson23 (4897 posts)
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      20. Prove your critics like me wrong, and do some good.

    • coderEmeritus (307 posts)
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      22. They are getting away with "murder"…

      … and so are medical device makers, most specialists of any type, most radiology/imaging providers, most hospitals, damn near everyone other than primary care physicians and nurses are making out like bandits.