December 7, 2016 at 11:05 am ET
In Time Interview, Trump Vows to Lower Drug Prices
President-elect Donald Trump has vowed to lower drug prices, opening up another major health policy debate as his inauguration nears.
“I’m going to bring down drug prices,” Tump said in an interview with TIME Magazine, which on Wednesday named him Person of the Year. “I don’t like what’s happened with drug prices.”
Biotech and pharmaceutical stocks soared after Trump’s surprising White House win last month. The industry had expected drug prices to be a target if Hillary Clinton was elected, but took solace in Trump’s win.
Rising drug prices have attracted plenty of attention over the past year, but debate over how to repeal and replace the Affordable Care Act has dominated health policy discussions in the past month.
Throughout the campaign, Trump floated some policies that aim to lower drug prices, such as allowing Medicare to negotiate prices and importing prescription drugs from other countries. But the health platform on his transition website doesn’t specifically address ways to lower drug costs.