Friday, 3 February 2017

Wonkbook: What CEOs say happened in Trump's closed-door meeting with big pharma

By Carolyn Y. Johnson Since the early days of his campaign, Donald Trump has vocally criticized rising drug prices. Occasionally, he faulted the government's inability to directly negotiate on drugs purchased through Medicare, a practice prohibited by law. But in a meeting with pharmaceutical executives on Tuesday, Trump's words were less clear. The executives say, …
 
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WASHINGTON, DC - JANUARY 31: Merck Chairman and CEO Ken Frazier, left, whispers to President Trump during a meeting with pharmaceutical industry leaders in the Roosevelt Room of the White House in Washington, DC on Tuesday, Jan. 31, 2017. (Photo by Jabin Botsford/The Washington Post)

Merck CEO Ken Frazier, left, whispers to President Trump during a meeting with pharmaceutical industry leaders in the Roosevelt Room of the White House. (Photo by Jabin Botsford/The Washington Post)

By Carolyn Y. Johnson

Since the early days of his campaign, Donald Trump has vocally criticized rising drug prices. Occasionally, he faulted the government's inability to directly negotiate on drugs purchased through Medicare, a practice prohibited by law.

But in a meeting with pharmaceutical executives on Tuesday, Trump's words were less clear. The executives say, behind closed doors, Trump never brought up government intervention on drug pricing. Meanwhile, Trump's public remarks were loaded with conflicting signals.

Before he closed the meeting-room door, Trump called for lowering "astronomical" drug prices but didn't specify how. Instead, he said that he would oppose "price-fixing" in Medicare -- a term conservatives use critically to describe what would happen if the government were to negotiate directly with pharmaceutical companies.

Some saw it as a clear reversal of Trump's policy position. But Trump also said he wanted "bidding wars" and told an anecdote about how he could buy aspirin at a pharmacy counter for cheaper than the U.S. government, which he pointedly called "the biggest purchaser of drugs anywhere in the world by far."

During a later press briefing, in response to a request to clarify the president's drug-price plan, White House press secretary Sean Spicer criticized the "bureaucracy" that held back government programs such as Medicare from bargaining.

"He is a successful businessman and a top-notch negotiator," Spicer said of Trump. "You've got such purchasing power that's not being utilized to the full extent."

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But pharmaceutical executives who met with Trump in private say he never brought up that policy.

Read the rest on Wonkblog.


Number of the day

227,000.

That is the number of positions employers added to payrolls in January, according to the monthly report from the Bureau of Labor Statistics. Ana Swanson has more.


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