Trump Tells Big Pharma: Drug Prices Must Go Down [VIDEO]

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Robert Donachie Capitol Hill and Health Care Reporter
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President Donald Trump met with executives from the pharmaceutical industry Tuesday morning at the White House to discuss ways to lower the exponentially increasing drug prices in the U.S.

Trump told the executives that “we have to lower drug prices,” increase research and development spending, and massively deregulate the pharmaceutical industry to lower barriers for entry of new drugs to the market.

Pricing of pharmaceuticals came into the public discourse when it was discovered in August that Mylan, the maker of the life-saving epinephrine injection device EpiPen, raised the price of the EpiPen 461 percent in under a decade. (RELATED: Push For Pricing Transparency In Pharmaceutical Market Not Likely)

The president met with the heads of Novartis AG, Merck & Co Inc, Johnson & Johnson, Celgene Corp, Eli Lilly & Co, and Amgen Inc. Also in attendance was the pharmaceutical industry’s lobbying group, the Pharmaceutical Research and Manufacturers of America.

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