, Columnist
Trump Is Losing His Ability to Scare Biotech
Drug stocks have reacted with diminishing horror to recent threats.
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For much of the past half year or so, President Donald Trump was the biotech bogeyman, set to impose draconian price curbs and crush industry profits. His fear factor is rapidly diminishing.
I've previously suggested biotech investors don't take Trump's pricing threats seriously enough. But the wild inconsistency of his stances, along with Republican party divisions, have combined to make real price curbs less likely. Trump's tweets are still dangerous, but it appears increasingly likely he's just crying wolf.