Last week I talked a little bit about what Brexit means for the biotechnology sector in the UK: now I want to bring your attention to an event a little closer to home- Trump.
Barring any political opinions I have of that orange buffoon, it’s time to face the possibility that a Trump presidency could become a real thing. And that leads to some very interesting speculations about what that could mean for the pharmaceutical and biotechnology industry in the US.
“I’m going to bring down drug prices,” Trump said, according to a transcript of an interview posted on Time magazine’s website as it named him its Man of the Year. “I don’t like what’s happened with drug prices.”
In this interview Trump suggested allowing the re-importation of pharmaceuticals from other countries to get drug spending under control. While this strategy could alleviate some of the drug affordability issues that plague the healthcare system in the US, it would require the government to remove the barriers that currently prevent this practice.
Then again, this is all coming from a man who doesn’t believe in climate change, so I would take his scientific opinions with a grain of salt.