SHOT: On May 30, Trump promised that pharmacutical companies would voluntarily make big price cuts in “two weeks.” We’re still waiting, and in fact drug prices have gone up, as Trump acknowledged today:
CHASER: Trump’s the reason drug prices going up so significantly.
- Trump’s administration makes it easy for drug companies to raise prices. His HHS Secretary is a former pharmaceutical executive, his FDA commissioner was an advisor to pharmaceutical companies and his administration is stocked with former pharma lobbyists.
- Pharma companies loved Trump’s drug pricing plan so much that their stocks soared after his drug speech.
- Trump broke a campaign promise and dropped plans to allow Medicare to negotiate drug prices.
- The “sherpa” for Trump’s next SCOTUS pick is Jon Kyl, a lobbyist for big pharma.