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President Donald Trump's long-promised plan to bring down drug prices, unveiled Friday, would mostly spare the pharmaceutical industry he previously accused of "getting away with murder." Instead he focuses on private competition and more openness to reduce America's prescription pain.
President Donald Trump's long-promised plan to bring down drug prices, unveiled Friday, would mostly spare the pharmaceutical industry he previously accused of "getting away with murder." Instead he focuses on private competition and more openness to reduce America's prescription pain.
Big Pharma is pouring money into a lobbying campaign to thwart any serious efforts to rein in prescription drug prices before a presidential speech this month where Trump plans to lay out his drug pricing proposals. "There is apprehension across the industry," said Bruce Artim, who retired recently after 11 years as the director of federal affairs at Eli Lilly and Co.
Alex Azar, a former drug industry executive who Republicans have nominated to run the U.S. Department of Health and Human Services, on Wednesday promised to lower drug prices that he said are too high, saying he would look at abuse of patent laws that delays generic competition. Azar, who worked at Eli Lilly & Co, said his top priorities would be drug pricing, affordable healthcare, Medicare innovation and the opioid crisis that has killed tens of thousands of Americans.
If you're feeling bereft, take note: Bernie Sanders is still here loudly fighting the good fight, this week blasting the avarice of Big Pharma so persuasively he sent their stock prices plunging to a seven-month low. After battling Big Pharma for decades - pillorying the makers of the emergency allergy injection EpiPen for obscenely jacking up their prices, recently calling out another company's price hikes on leukemia drugs, and campaigning this fall to stop price-gouging by seen by many as Ground Zero for drug companies and their 1,266 D.C. lobbyists - Bernie isn't letting up.
Makers of insulin became the latest target for Senator Bernie Sanders, who has been going after pharmaceutical companies one by one over the issue of high U.S. drug prices. Shares of Eli Lilly & Co.
Shares of Eli Lilly were sliding in early-afternoon trading on Tuesday after Senator Bernie Sanders criticized the price increase of the company's Humalog insulin. Why has the price of Humalog insulin gone up 700% in 20 years? It's simple.