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Trump Goes After Pharma on Twitter as Companies Increase Prices

  • Comment comes as drug industry’s biggest meeting set to start
  • New year brought average drug price increase of 6.7 percent
Photographer: Dhiraj Singh/Bloomberg

Just as the pharmaceutical industry’s biggest conference of the year is set to get under way, President Donald Trump took to Twitter to complain that drugmakers aren’t “living up to their commitments on pricing.”

Despite talk about halting increases and lowering the price on some treatments, pharmaceutical companies on Jan. 1 returned to the practice of regular price hikes on hundreds of drugs. The average increase was 6.7 percent, according to data analyzed by Bloomberg.