[Ip-health] PhRMA's statement after meeting in the Oval Office today with President Trump
myhr at online.no
Wed Feb 1 00:46:13 PST 2017
BBC report the following:
US President Donald Trump has called on pharmaceutical bosses to cut
"astronomical" drug prices.
During a White House meeting with senior pharmaceutical executives he told
the firms to manufacture more of their drugs in the US. However, he also
vowed to help the firms by speeding the approval of new medicines and by
cutting taxes. His pledges helped to send shares in many of the biggest US
drugmakers higher on Tuesday. Drugmakers have faced intense criticism from
US politicians - including Mr Trump - as well as insurance companies and
patients' groups over the high cost of new medicines and price hikes in some
older generic drugs.
Among those attending the meeting were the bosses of Merck, Johnson &
Johnson, Novartis, Amgen and the head of the Pharmaceutical Research and
Manufacturers of America (PhRMA) lobbying group.
"US drug companies have produced extraordinary results for our country but
the pricing has been astronomical for our country, we have to do better," Mr
Trump told them in the meeting. "We have to get even better innovation, and
I want you to move your companies back to the United States," he said. To
help the firms, Mr Trump said his administration was "going to be lowering
taxes big league". "We're going to be getting rid of regulations that are
unnecessary - big league," he added.
The president's promise to speed up approvals by the Food and Drug
Administration for new medicines sparked strong gains in pharmaceutical
Shares in Merck and Amgen rose by about 1% while Novartis was up more than
2% on Wall Street. The Nasdaq Biotech Index gained nearly 3% after the
meeting and the S&P 500 health care index rose 1.4%. Investors had sold off
shares in drugmakers in recent weeks following heavy criticism from Mr Trump
- supported by Democratic Senator Bernie Sanders - over drug pricing.
However, senior pharmaceutical executives welcomed Mr Trump's proposals on
Tuesday to cut taxes and loosen regulations. "We believe if these policies
are enacted, it will translate to up to 350,000 new jobs over the next 10
years as a result of growth in the biopharmaceutical industry," said Stephen
J. Ubl, chief executive of PhRMA. Amgen chief executive, Robert Brad, said
in the meeting that his firm would add 1,600 jobs in the US - a move
welcomed by the president.
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with President Trump
PhRMA CEO Statement Following Meeting With President Trump Stephen J. Ubl
| January 31, 2017 | SHARE THIS
This morning, we had a positive, productive meeting with President Trump,
Vice President Pence and House Energy and Commerce Chairman Greg Walden,
(R-Ore.). We talked about how we can work together to improve American
competitiveness around the world, create more jobs here at home and enhance
the U.S. biopharmaceutical industry that continues to lead the world in the
development of lifesaving treatments and cures.
We discussed many areas of common ground including: Advancing stronger trade
agreements to level the playing field with countries around the world;
reforming our tax code to spur investment and job creation here in the
United States; and removing outdated regulations that drive up costs and
slow innovation. We believe if these policies are enacted, it will translate
to up to 350,000 new jobs over the next 10 years as a result of growth in
the biopharmaceutical industry.
We also talked about how we can work together on health care reform to give
consumers more choices and create a more competitive health care
Our industry takes seriously the concerns raised about the affordability and
accessibility of prescription medicines, and we have expressed our
commitment to working with the administration to advance market-based
reforms. The current system needs to evolve to enable the private sector to
lead the move to a value-driven health care system. To do this, we need to
reform existing laws and regulations that are currently preventing private
companies from negotiating better deals and paying for medicines based on
the value they provide to patients and our health care system.
We look forward to working with the administration and Congress to advance
solutions that promote economic growth and job creation and create a more
competitive health care marketplace.
Stephen J. Ubl Stephen J. Ubl is president and chief executive officer of
PhRMA. Mr. Ubl leads PhRMA's work preserving and strengthening a health care
and economic environment that encourages medical innovation, new drug
discovery and access to life-saving medicines. Ubl is recognized around the
world as a leading health care advocate and policy expert who collaborates
successfully with diverse stakeholder groups - including patient and
physician groups, regulators, public and private payers, and global trade
organizations - to help ensure timely patient access to innovative
treatments and cures.
Access to Medicines Advocate
Public Citizen | Protecting Health, Safety and Democracy
TEL: +1 202-588-7769
1600 20th St. NW, Washington, DC 20009
Public Citizen Foundation participates in the Combined Federal Campaign with
the CFC Code 11168.
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