Before a widely anticipated speech that President Trump is slated to give next week about drug pricing, one analyst cautions both drug makers and their cheerleaders on Wall Street that their world is about to change – big time.
In a pointed note, Wells Fargo analyst David Maris makes clear the ironic dilemma facing the pharmaceutical industry: The enthusiasm for “incredible innovation” is tempered by a public that is “increasingly hostile” to paying for breakthroughs and advances. Why? He cites “unconscionable” price hikes that have “hardened” many opinions.
Ah, let me guess – Big Pharma will see this prediction as “Bull” – until it runs over them. Or perhaps this speech will be postponed for another 3 weeks …
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