Biotech Companies Climb On Seemingly Toothless Drug-Pricing Reform

Johnson & Johnson’s stock

We are delivering on President Trump's promise to do smart bidding and tough negotiation in Medicare: "We are going to bring negotiation to where it doesn't exist, in Part B, and making negotiation more effective than it is today, in Part D".

"I've got a pen and I've got a phone - and I can use that pen to sign executive orders and take executive actions and administrative actions that move the ball forward", Mr. Obama said. He said that "the middle man" has become rich on the backs of patients. Trump said in the Rose Garden.

The American public, Health and Human Services Secretary Alex Azar said, deserves to know which companies are "gouging consumers".

Once the speech concluded, stocks rallied. Further, Azar said he and the Centers for Medicare and Medicaid Services are developing incentives to lower list prices.

Azar noted that numerous Blueprint proposals can be accomplished through executive action, but that change may take some time if new rulemaking is required.

While Trump may have complained repeatedly about the extremely high price of drugs during his Presidential campaign, calling the big pharma companies out of control and claiming that they were getting away with murder, he also filled up his administration with ex-industry executives as well as consultants.

"We're also increasing competition and reducing regulatory burdens, so drugs can be gotten to the market quicker and cheaper", President Donald Trump said Friday.

Romney calls U.S. pastor at Jerusalem embassy ceremony a 'bigot'
It was the deadliest day there since a devastating 2014 cross-border war and cast a shadow over Israel's festive inauguration of the new U.S.

Yemen, UAE reportedly reach deal over island
The presence of UAE troops angered Socotra residents, who insisted there were no rebels on the island, the source said. Saudi Arabia has announced Sunday that they are deploying troops to the Yemeni island of Socotra.

At least 7 killed as blasts, gunshots rock E. Afghanistan's Jalalabad city
The attack targeted the tax and revenue office of Nangarhar Province in the city center of Jalalabad on May 13. Some areas of the province are a stronghold of the ISIS group but Taliban fighters are also active there.

The Hill's Peter Sullivan noted on Twitter that CVS Health didn't express negativity either: "Nothing critical in PBM CVS Health's statement: "Policy solutions that lower drug prices for consumers and reduce out-of-pocket costs are aligned with CVS Health's business model and would not be expected to have a negative impact on profitability". Under the "American Patients First" blueprint, the administration will challenge "global freeloading" through actions that reduce price disparities and spread the burden for incentivizing new drug development between the USA and other developed nations.

Other seniors advocates called the blueprint a good first step, though some had hoped the president would empower the government to play a larger role in price setting. Major drugmakers Amgen, Gilead Sciences, Merck and Pfizer all enjoyed stock price spikes after the speech, as did the two largest indexes for pharmaceutical and biotech companies.

Statements made by the President were that "Everyone involved in the broken system - the drugmakers, insurance companies, distributions, pharmacy-benefit managers and many others - contribute to the problem", also adding that "Government has also been part of the problem because previous leaders turned a blind eye to this incredible abuse".

It's also important to consider what the blueprint doesn't include-such as a plan to allow Medicare to directly negotiate drug prices and establish a formulary, or permitting lower-priced drug imports from other countries. Given the latest fluctuations on the market, though, Trump and Azar have a considerable distance to go.

In remarks to reporters following the speech, Azar said Trump wants Medicare to negotiate more effectively, "rather than trite, gimmicky, political proposals".

"Think about all the time everybody spends watching drug company ads, and how much information companies are required to put in them", Azar said. "Against, this is - it took decades to erect this very complex, interwoven system". The administration seeks "fundamental structural change" to a system of "entrenched market players", he commented in a press briefing.

Trump did not talk about price negotiations through the Medicare program, despite the fact that it had been one of his selling points when he was campaigning for the Presidency.

Related news:

Hot News

isis-killer-beheading-video-story-top Kohli get his wings back
May 15, 2018 - 05:15
A fan of Royal Challengers Bangalore captain Virat Kohli gets his selfie before security remove him from the field in Delhi. Aaron Finch tried to provide some resistance with the bat, but poor shot selection costed Australian his wicket .

isis-killer-beheading-video-story-top Actress Margot Kidder of "Superman" fame has died
May 15, 2018 - 04:56
She is survived by a daughter who was born in 1976 during her first marriage to Thomas McGuane , as well as two grandchildren. The actress also appeared in iconic film The Amityville Horror and bagged a series of small film roles throughout the 80s.

isis-killer-beheading-video-story-top Newly-wed Sonam Kapoor responds to marriage wishes
May 15, 2018 - 04:48
Sonam Kapoor has been a regular at the French Riviera since 2011 and has lived up to her image of Bollywood's style icon. The newly-weds shared their wedding picture where they can be seen planting a kiss on each other's cheek.

isis-killer-beheading-video-story-top Google One Features: The successor to Google Drive cloud storage explained
May 15, 2018 - 04:42
What kinds of new services or features should you expect with Google One? Look out for an email with details on your new benefits. Google says that with Google One , you'll be able to share storage plan with you to five family members.

isis-killer-beheading-video-story-top 'Rage 2' officially confirmed by Bethesda - watch the first teaser trailer
May 15, 2018 - 04:29
You are one of the chosen members of these modern day arks and abruptly enter the RAGE universe after surfacing alone. The resemblance between Bethesda's Rage 2 and Avalanche Studios' Mad Max may not be coincidental.

isis-killer-beheading-video-story-top Facebook says it has suspended 200 apps for possible misuse of data
May 15, 2018 - 03:49
Facebook has suspended 200 apps for possible misuse of user data in the wake of the Cambridge Analytica scandal . The second phase consists of investigating each of the "suspicious" apps one by one, as described above.

isis-killer-beheading-video-story-top Kyle Dubas named Toronto Maple Leafs new general manager
May 14, 2018 - 02:29
In 2015, Forbes named Dubas among the sports industry's young stars in its annual Top 30 Under 30 in Sports. As expected, the Toronto Maple Leafs stayed in-house in finding their new general manager.

isis-killer-beheading-video-story-top Nisar lashes out at Nawaz Sharif over Mumbai attack remarks
May 14, 2018 - 02:13
Some 166 people were killed in the attack carried out by 10 LeT men. One of them was caught and hanged. Why can't we complete the trial".

isis-killer-beheading-video-story-top Ricciardo: Red Bull was 'tricky to drive'
May 14, 2018 - 02:04
So I hope from now onwards, it just goes in that direction, because I don't think I need to do anything different. Friday's paint one picture but you're never sure what is going to happen", he claimed.

isis-killer-beheading-video-story-top Australian police find 7 dead with gunshot wounds
May 14, 2018 - 01:57
Australia's homicide rate did not fall in the first years after those restrictions went into place, though suicide declined. Australia's worst mass taking pictures occurred in April 1996 when Martin Bryant killed 35 folks and injured 24.

isis-killer-beheading-video-story-top Lewis Hamilton Wins the 2018 Spanish GP — Twitter Reacts
May 14, 2018 - 01:10
Renault's Carlos Sainz finished ninth ahead of Haas' Romain Grosjean . "But we're not really asked". "So that's a positive thing". Hamilton led the race from pole with Ferrari's Sebastian Vettel on his tail, followed by Valtteri Bottas and Kimi Raikkonen .

isis-killer-beheading-video-story-top Exit polls are entertainment, enjoy weekend: Siddaramaiah
May 14, 2018 - 01:01
A total of 2,654 candidates are in the fray and 4.96-crore electorate, including 2.44 crore women, will cast their votes. But its 31 seats predicted by the polls are more than enough to place it in the kingmaker's spot .

isis-killer-beheading-video-story-top New England Patriots' McDaniels offers support for Detroit Lions coach Patricia
May 14, 2018 - 00:58
In fact, I can say that I am different person mentally than I was four years ago when I was still in college. It's been an eventful week for the Detroit Lions and head coach Matt Patricia .

isis-killer-beheading-video-story-top Leicester City boss Claude Puel: 'We should have beaten Tottenham Hotspur'
May 14, 2018 - 00:56
Don't leave us Toby, we need you big man! If we can create that feeling, everything happen in football. His side have not finished campaigns well and he will want his side to turn things around this season.

isis-killer-beheading-video-story-top Militants from Pakistan attacked Mumbai: Sharif
May 14, 2018 - 00:46
The Mumbai attack case has entered into the 10th year but none of its suspects in Pakistan has been punished yet. Sharif questioned the policy of allowing the non-state actors to cross the border and kill people in Mumbai.