Updated on 13 December 2016
Singapore: In a recent interview with a leading magazine, Preisdent-elect Donald Trump said that he would bring down drug prices and reduce the cost of prescription drugs. Trump previously had also suggested that he was open to allowing importation of cheaper medicines from overseas.
In a cover story for Time magazine, which named him its Person of the Year, Trump said: "I don't like what has happened with drug prices." This might bring relief to many consumers who have been constantly affected with rising drug prices.
Recently a Reuters report stated that, top executives from large US drugmakers on Thursday discussed for the first time possible changes for the industry under President-elect Donald Trump, and issues that have damaged the reputation of their industry.
Speaking at the event, Allergan Inc Chief Executive Mr Brent Saunders said, "Though pharma companies are now breathing a sigh of relief, Trump could be more critical of drugmakers and their price increases than the industry expects." Mr Saunders predicted that Trump could be a "more vicious tweeter" against the drug industry than his former Democratic rival Hillary Clinton had been during the campaign.
Ms Clinton's tweets committing to a crackdown on exorbitant drug price increases weighed heavily on pharmaceutical shares since her first tweet in September 2015. Pharma shares jumped in the days after Trump's election as Clinton's proposed price controls fell off the table.