Trump Plans Tax Cuts, Deregulation After Meeting with Pharma Lobbyists

Source: Reuters

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