You know when Wall Street is pleased the chances of the 99% getting screwed are high:
Many analysts had predicted that President Donald Trump would highlight a push for an international pricing index in his State of the Union speech, but he didn’t make that move on Tuesday night.
That’s good news for investors in drug makers, according to Height Capital Markets analyst Hunter Hammond.
(snip)
“Given the opportunity to introduce the International Pricing Index model, Pres. Trump instead touted generic-drug approvals and reiterated his tacit endorsement of Sen. Grassley’s (R., Iowa) drug-pricing legislation, which we believe fares poorly in the Republican-controlled Senate.”
(snip)
Republican Sen. Chuck Grassley of Iowa and Democratic Sen. Ron Wyden of Oregon, the Senate Finance Committee’s two highest-ranking members, have rolled out a bill aiming to curb drug-price increases by placing some caps on out-of-pocket spending in Medicare. Analysts have said the legislation would have a “negligible” impact on the pharmaceutical industry, affecting about 2% of drug sales and representing a “positive outcome for the industry.”
The last bit about Grassely and Wyden’s bill is rather concerning. Trump’ actions are, of course, alarming as usual.