For months, President Trump promised to deliver a speech that would put to justice the pharma companies he claimed were gouging consumers. But his long-awaited remarks, delivered Friday, sent biopharma stocks skyward instead.
Trump did not call for Medicare to negotiate lower prescription drug prices, an idea the industry had feared, and he did not revisit the caustic rhetoric that marked his presidential campaign.
Instead, most of Trump’s proposals disclosed during a White House Rose Garden event focused on the middlemen who negotiate drug costs on behalf of insurance companies, a group pharma would love to see slip into the White House’s crosshairs.
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