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Biotech Stocks Rise After Trump's Drug Price Risk Seems to Lessen

  • Reports say Trump executive order may favor drug industry
  • Biotechnology index has best three-day streak since November
Photographer: Tomohiro Ohsumi/Bloomberg
Updated on

President Donald Trump once said the drug industry was “getting away with murder,” but Wall Street is betting that pharmaceutical companies could end up getting a relatively easy pass as the administration tackles rising drug prices.

In the past week, news outlets have reported that an executive order the Trump administration is preparing will contain industry-friendly policies instead of more aggressive proposals. The policies being considered include efforts to promote cooperative arrangements between drugmakers and insurers, speeding approval of new treatments, and finding ways to make other countries pay more for drugs, according to the reports.