President Donald Trump last week unveiled his administration’s plan to lower drug prices. But investors seemed relieved after the president made his highly anticipated announcement – stocks for large pharmaceutical companies and middlemen, like pharmacy benefit managers, were up on Friday.
Trump did not commit to follow through with promises he made while campaigning for office, like enabling Medicare to negotiate drug prices. Instead, he scolded the industry and said his administration is working on plans to boost competition from generic drugs.
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