Populist President Trump tells Big Pharma to reduce ‘astronomical’ prices

In his second week on the job, President Donald John Trump already has fulfilled many of his campaign promises — and more — showing himself to be true to his word.

Yesterday, January 31, President Trump met with the heads of some of the biggest pharmaceutical companies and told them they must reduce the “astronomical” high costs of prescription drugs.

trump-meets-with-big-pharma-1-31-2017

ZeroHedge reports that at yesterday’s meeting were:

  • Pharmaceutical Research and Manufacturers of America CEO Stephen Ubl
  • Merck & Co. CEO Ken Frazier
  • Eli Lilly & Co. CEO Dave Ricks
  • Celgene Corp. CEO Bob Hugin
  • Novartis AG CEO Joe Jimenez
  • Johnson & Johnson Worldwide Chairman of Pharmaceuticals Joaquin Duato

Trump told the drugmakers “You folks have done a very great job over the years” and “produced extraordinary results for our country,” but they were charging “astronomical” prices and “we have to get the prices down”.

Trump said “Competition is key to lowering drug prices” and vowed to get better bargains for government health programs. He has threatened to have the government negotiate prices directly with the industry on behalf of Medicare and Medicaid, which are some of the world’s biggest purchasers of health-care products and services and cover tens of millions of Americans.

Trump also promised to increase international competition, slash regulations, and get new treatments to market faster at the Food and Drug Administration (FDA) because he’s “always” been “disturbed” by terminally ill patients dying before a drug they needed is finally approved by the FDA. So Trump promises “We’re going to streamline FDA” and that “we have a fantastic person” who will be announced to lead the agency soon. He also promised to cut taxes on business and lure companies back to the U.S.

In return, the Big Pharma CEOs said they embraced Trump’s calls for lower taxes and fewer regulations. “Some of the policies you’ve come out and suggested I think can help us do more — tax, regulations,” said Lilly’s Ricks.

Here’s a video of the meeting:

Even before he was inaugurated President, Trump’s criticism of the drug-manufacturing industry earlier this month on Jan. 12 had sent drug and biotechnology stocks plunging. Since then, drugmakers have turned up their lobbying efforts with Congress as a potentially friendlier force to counter Trump.

Bloomberg reports the pharmaceutical industry is one of Washington’s most powerful lobbying groups, and each year spends hundreds of millions of dollars on lobbying, in addition to being one of the biggest donors to political campaigns, according to the Center for Responsive Politics.

Just a reminder: Hillary Clinton would never do this, telling Big Pharma drug costs are too high. See “WikiLeaks Podesta emails: Clinton Foundation works with Big Pharma to keep AIDS drug prices high”.

The definition of “populism” is “support for the concerns of ordinary people.” There’s a reason why on the Tuesday after he was inaugurated, President Trump hung a portrait of President Andrew Jackson in the Oval Office. America’s 7th president, Jackson is known for his populism and patriotism.

In an interview last November with The Hollywood Reporter, Steve Bannon, now White House Chief Strategist and Senior Counselor to President Trump, said this about Donald Trump:

“He gets it; he gets it intuitively. You have probably the greatest orator since William Jennings Bryan, coupled with an economic populist message and two political parties that are so owned by the donors that they don’t speak to their audience. But he speaks in a non-political vernacular, he communicates with these people in a very visceral way. Nobody in the Democratic party listened to his speeches, so they had no idea he was delivering such a compelling and powerful economic message. He shows up 3.5 hours late in Michigan at 1 in the morning and has 35,000 people waiting in the cold. When they got [Clinton] off the donor circuit she went to Temple University and they drew 300 or 400 kids.”

~Eowyn

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16 responses to “Populist President Trump tells Big Pharma to reduce ‘astronomical’ prices

  1. The most beneficial move for everyone!

    Liked by 2 people

  2. One of the best things about Trump-He’s NOT comfortable with
    NOT accomplishing something. So it’s not over until he gets the job done.

    Liked by 2 people

  3. Kevin J Lankford

    I have long held that it is the cost of health care that is the root of the problem. Yet the focus of all is on insurance. The whole debacle of obama care was nothing but a scam that totally ignores the real problem, and the focus seems to still remain on covering every one with insurance rather than addressing the real problem of the ridiculous cost of every thing associated with heath care and hospitalization.

    Insurance itself is a major driving force behind inflation. It like a monstrous ponzi scheme. The ever increasing premiums result in a slush fund that none can resist, and it become self feeding as greed grow. Even the automotive repair industry thrives off of the insurance industry.

    Nothing is going to get better as long as the focus is on trying to cover people with insurance rather the actual costs of heath care. If hospitals and health care professionals had to rely on what a person could afford to pay rather than try to suck all they can out of a slush fund costs could never have reached the point they have. But good luck trying to make them agree to that.

    Liked by 2 people

    • I knew Obozo Care was a ripoff when there was not one offer of reduced rates for being healthy. They don’t want healthy, it scares them out of their minds! That is why the prosecution of naturopath, herbalist, chiropractor, acupuncture and orthomolecuar doctors. And the fear of sales of vitamin, herb, mineral and homeopathic supplements. And 2015 went by without one death from any supplement, zero! A miracle considering the billions of doses taken!
      —While the number of drug mistakes made by just taking the prescription your doctor ordered, was 125 thousand deaths.
      —Hospital Mistakes 100 thousand deaths
      —other mistakes 75 thousand deaths…
      —Grand Total: Medical Mistakes Kill Over 300 Thousand People Every Year, that is Criminal! And the 3rd biggest killer in the USA, below heart disease and cancer!
      —Watch Dennis Quaid explain how a moronic mistake nearly killed his baby. And the same mistake had been repeated because the drug companies made similar bottles of drugs one for adults, and one for babies. His baby got a blood thinner made for an adult, NUTS!

      Like

  4. Shakespeare said “first kill all the lawyers”. (figuratively speaking) Lawyers making laws? Conflict of interest. Healthcare needs tort reform. 100’s of Millions in Medical malpractice awards. 100’s of millions more for malpractice insurance. Good Grief. All of this doubles and triples healthcare costs and is one of the reasons drugs cost so much as well.

    Liked by 2 people

  5. This is all for show and doesn’t mean anything. In fact, in reality, what Trump did in meeting with the Big Pharma CEOs, ‘Basically Just Admitted He’s Ditching His Promise to Renegotiate Prescription Drug Prices’

    But then again, some people just believe what they want to believe, the FACTS be damned.

    http://www.slate.com/blogs/moneybox/2017/01/31/trump_won_t_try_to_renegotiate_prescription_drug_prices.html

    Like

  6. I certainly hope President Trump goes after Monsanto and Pepsi with a vengeance: Monsanto is PUBLIC ENEMY # 1 and Pepsi—in addition to using fetal material for “flavoring” ardently desires public water rights to be abolished, and they emptied TWO California lakes and earned $200 million on the deal.

    Liked by 1 person

    • Very true Steven. If you can get your hands on the documentary, The Future of Food, excellent explanation of Monsanto,and the damage being done with their Round Up, which I believes contributes to much the asthma and lung problems we now have.
      I now have to use inhalers due to chemicals and even with insurance, one of them is still over $80.
      I pray the President succeeds, it is a win for all the people.

      Liked by 1 person

      • Glenn47
        It is also the air quality and what is in the air. I use an air purifier, walk as much as possible, drink baking soda and water which push’s out impurities, as well as taking herbal supplements to which help the lungs. I also used to have asthma and found swimming to help actually to expand the lungs which got rid of the asthma believe it or not.

        Mountain climbers, swimmers and the tibitains have different lungs because of this expansion….

        But first if you have impurities you will have to get them out of your body as much as possible.

        If you can qualify for oxygen in some way it would be great as well, oxygen machines are great.

        Like

        • Thank you and I do use most of what you wrote. I even use oxygen drops in my water before walking and it helps. I take chlorella to build my immunity. I can now fly without becoming ill.
          My asthma came from some doofus at work accidently spraying me in the face with a chemical degreaser that wasn’t diluted.
          I even take heavy metal supplements.
          It is a work in progress.

          Like

  7. The capital….is and has always been about business, Trump understands the deal….

    However to sweeten this deal for the pharmas, lower taxes and more streamlined regulations[that could mean too fasted tracked without enough research, but i could be mistaken on that]

    America, I do believe has the highest tax rates to date for companies
    [i could be mistaken on this to date]. if he gets that lowered for them….they must cooperate with lower prices for Americans who need those pharmaceuticals as well…

    I hope this deal works out even though ….I go as natural as possible.

    Liked by 1 person

  8. The piece missing is to enforce the Sherman & Clayton Acts against the medical industry. Hospitals, pharma companies, offices. Price-fixing and collusion are ILLEGAL and there is NO exemption for the medical industry. Rand Paul – in a viciously ANTI-American move, has written a bill to exempt the medical industry. This MUST be stopped immediately. I used to respect Sen/Dr. Paul; this one bill has destroyed that respect.

    Like

    • I’d have to know more about WHY Dr. Paul would do this,and what else is involved. Granted,it doesn’t look good at this point,but this is something that would normally go against everything he’s based his political life on. Seems to me there has to be more to it….

      Like

  9. While I agree with the sentiment, there is some serious tort reform that has to occur first.

    Like

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