5 key points on Trump's meeting with pharma execs

Written by Laura Dyrda | February 01, 2017 | Print  |

President Donald Trump met with pharmaceutical executives earlier this week, according to U.S. News and World Report.

In previous speeches, President Trump attacked pharmaceutical companies for their high prices, saying they are "getting away with murder" and insisting that prices must come down. Here are five things to know about the meeting:


1. U.S. News reported President Trump told the pharma executives their prices were "astronomical" in the closed door meeting, which also included Vice President Mike Pence and Rep. Greg Walden, Ore.-R, who is chairman of the Energy and Commerce Committee.


2. President Trump spoke about accelerating the FDA approval process. Pharmaceutical Research and Manufacturers of America President Steve Ubl said the meeting was "positive and productive."


3. Patient advocates expressed concerns that accelerated approvals could put patients at risk, but President Trump said although he plans to cut regulations, "we're going to have tremendous protection for the people, maybe more protection."


4. Chairman and CEO of Merck Kenneth Frazier, who was also at the meeting, told reporters the discussion focused on tax policies and the push to continue innovation.


5. President Trump's Press Secretary Sean Spicer discussed lowering drug prices to bring down medical costs and encourage innovation as well as moving companies back into the United States with lower taxes and removing "unnecessary" regulations.


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