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Trump Promises Aggressive Campaign to Cut Drug Prices

  • President seeks to address a populist campaign promise
  • Biotech stocks gain ahead of Trump’s speech at White House
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President Donald Trump speaks in the Rose Garden about his plan to cut U.S. drug prices. (Source: Bloomberg)
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Donald Trump said he would propose the most sweeping plan in U.S. history to lower drug prices, an attempt to meet a promise from his campaign that has largely gone unaddressed so far in his presidency.

“We’ll have much lower prices at the pharmacy counter and it’ll start taking effect immediately,” Trump said in a speech in the White House Rose Garden. “We’re also increasing competition and reducing regulatory burdens so drugs can be gotten to the market quicker and cheaper.”