Trump Tells Pharmaceutical Officials To Bring Down Drug Prices, and Manufacture in the U.S.

Top pharmaceutical officials went into the meeting with President Trump a little nervous about what they may hear, and possibly left a little nervous about what they must do. Trump told the drug companies that, “I want you to manufacture in the United States,” according to the Wall Street Journal.

Even though 60% of finished medicines are made in the U.S., imports have more than doubled in recent years. “The U.S. is now the world’s biggest importer of pharmaceuticals, according to the Department of Commerce, with imports of $86 billion in 2015, compared with $39 billion in 2005,” the Wall Street Journal reports.

PhRMA, the drug industry’s lobbying group, responded that drug companies both U.S. and foreign “invest more than $70 billion a year in research and development in the United States—more than any other industry in America—and are responsible for 4.5 million American jobs.” PhRMA added that it is “committed to working with the president and administration to improve American competitiveness and protect American jobs.”

Source: Wall Street Journal