The drug industry isn’t afraid of Trump anymore
Back in early 2017, when President Trump set his sights on lowering drug prices, pharma CEOs went to the White House to explain the details of gross-to-net spreads, tout the benefits of innovation, and one-up one another about how much manufacturing they do in the U.S. Three years later, the dynamic is quite different.
According to Politico, a similar White House meeting, scheduled for today, has been scrapped after industry CEOs “refused” to meet with the president. On Friday, Trump rolled out four executive orders including one that would eventually cap U.S. drug prices based on what drug makers charge in foreign countries. The idea is odious to the pharmaceutical lobby, and its 11th-hour disclosure led the industry to nix the entire meeting, Politico reported.
That, much like BIO’s recent statement in solidarity with Anthony Fauci, would have been unthinkable just a few years ago, when the drug industry was still piecing together what a Trump administration would mean for its business model. It suggests that pharma, having endured a lot of high-profile attacks that came to nothing, has decided Trump isn’t much of a threat after all. Or it’s a sign that the industry has seen Trump’s poll numbers and deduced that this administration won’t be around for long.
According to Politico, a similar White House meeting, scheduled for today, has been scrapped after industry CEOs “refused” to meet with the president. On Friday, Trump rolled out four executive orders including one that would eventually cap U.S. drug prices based on what drug makers charge in foreign countries. The idea is odious to the pharmaceutical lobby, and its 11th-hour disclosure led the industry to nix the entire meeting, Politico reported.
That, much like BIO’s recent statement in solidarity with Anthony Fauci, would have been unthinkable just a few years ago, when the drug industry was still piecing together what a Trump administration would mean for its business model. It suggests that pharma, having endured a lot of high-profile attacks that came to nothing, has decided Trump isn’t much of a threat after all. Or it’s a sign that the industry has seen Trump’s poll numbers and deduced that this administration won’t be around for long.
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