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Trump Sinks Pharma Stocks on Medicare Drug Price Negotiation

  • ‘He’s for it, yes,’ spokesman says at press briefing
  • Stocks slump, then pare losses as investors ponder position
Bloomberg business news

Spicer Says Trump Backs Medicare Drug Price Negotiating

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President Donald Trump supports Medicare drug price negotiations, his spokesman said Tuesday, remarks that sent pharmaceutical stocks swinging again as investors tried to assess whether drugmakers will be forced into bidding wars for government business.

“He’s for it, yes,” White House spokesman Sean Spicer said at a press briefing in response to a question asking to clarify Trump’s position on the matter.