Trump to Congress: We must bring down drug prices 'immediately' quoting : The Hill

President Trump doubled down on his call to bring down the prices of prescription drugs in his first address to Congress Tuesday. Trump said his administration and Congress should "work to bring down the artificially high price of drugs and bring them down immediately." "We're attacking this problem by focusing on ideas that even President Trump says he supports," Rep. Elijah Cummings (D-Md.) The president is highlighting the issue as Democrats push him on fulfilling his campaign promise of combatting high drug prices. "The president's support for these ideas have been so clear that I'm tempted to introduce a bill in the House named 'The Donald Trump Drug Affordability Act.'



Trump to Congress: We must bring down drug prices 'immediately'
(Photo: Nicole Gaudiano, USA TODAY)Rep. Elijah Cummings said Tuesday he will meet with President Trump sometime next week to discuss the rising cost of prescription drug prices, something Trump has vowed to fix. He is joined by, from left, Sen. Cory Booker, D-N.J., Rep. Elijah Cummings, D-Md., and Rep. Lloyd Doggett, D-Texas. Sen. Bernie Sanders, I-Vt., introduces legislation on Feb. 28, 2017, designed to drive down drug prices by importing drugs from Canada and other countries. He previously said he was not ready to meet with Trump until he had legislation to discuss. The bill's 19 co-sponsors are all Democrats and independents, but drug importation isn't a party-line issue.

How drug stocks fulfilled their destiny without Trump

Short sellers built up positions ahead of the meeting with Trump, betting that the stocks would go down afterward. But the drug companies came to the table with powerful statistics surrounding employment, and after the meeting Trump began praising the executives and moved on to the next group. When Cramer studied the gains of Merck, Eli Lilly and Pfizer, he discovered that they simply rose because they were bond market equivalents. As the bond prices rose and bond yields fell, investors crowded into them for income. After all, Trump had campaigned against outrageous sums that the U.S. government paid drug companies.



collected by :Lucy William

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