A couple posts ago I wrote about some of the predictions that experts had about the biotechnology industry in the case of a Trump victory. On November 8th, he was elected. And while the outlook for the American people looks bleak, it appears as if pharmaceutical giants and big biotech companies have scored a victory with this election.
According to CNN, Trump’s victory spells good news for healthcare investors, as many do not believe that Trump plans on attacking the issue of high drug prices- to editorialize a little bit here, I find this absolutely regrettable, and I am all for driving down drug prices so that the general populace can afford to buy often life-saving pills. Still, the large uncertainty over Trump’s strategy has largely faded away at this point, and it seems as if figures like “Pharma Bro” Martin Shrekli are again poised to profit from this election.
“The only thing that would negatively affect spending is if Trump had Medicare negotiate directly on lowering drug prices,” Bob Ehrlich, chairman-CEO of DTC Perspectives, told FiercePharma. While Ehrlich admitted that this was a possibility, he believes that Trump may lean toward the pharmaceutical industry’s side of the drug pricing debate.