Trump Plans Tax Cuts, Deregulation After Meeting with Pharma Lobbyists

The U.S. President is urging pharma companies to manufacture more in the United States and promises to "streamline the FDA."

Jan. 31, 2017

After a meeting with pharmaceutical industry lobbyists today Trump has stated plans to lower taxes and to loosen regulations. Executives from J&J, Eli Lilly, Merck, Amgen Inc, Novartis and more attended as well.

Trump called on the pharma industry to manufacture more drugs in the United States and to cut prices. In a statement, Trump promised to "streamline the FDA." He admonished the pharma industry over "astronomical" medicine prices in its health programs for older, disabled and poor people and stated he would appoint a new U.S. Food and Drug Administration leader shortly.

"We’re going to streamline the FDA," Trump said in a statement, referring to the regulatory agency responsible for vetting that new drugs are safe and effective.

According to a Reuters report, Celgene, Lilly, Merck and Amgen were encouraged by Trump's focus on innovation, tax reform and the need for a more value-driven health care system.

Read the Reuters report