Mr. Trump admonished drug companies for shifting production overseas, expressing the need to bring the industry back to the U.S.
“And the other thing we have to do is create a new bidding procedure for the drug industry because they’re getting away with murder,” said Mr. Trump. “Pharma has a lot of lobbies, a lot of lobbyists and a lot of power. And there’s very little bidding on drugs. We’re the largest buyer of drugs in the world, and yet we don’t bid properly … We’re going to start bidding and were going to save billions of dollars over a period of time.”
Dan Diamond, a reporter for Politico, noted biotechnology stocks plunged shortly after Mr. Trump’s remarks.
“Trump’s attack on pharma ‘getting away with murder’ wiped out a week of gains in the biotech sector,” he tweeted.
Less than an hour after the press conference, biotech stock dropped by more than 3 percent, according to NASDAQ figures.
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