Trump meets with pharma executives amid drug pricing push

Trump meets with pharma executives amid drug pricing push
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President TrumpDonald TrumpFacebook temporarily bans ads for weapons accessories following Capitol riots Sasse, in fiery op-ed, says QAnon is destroying GOP Section 230 worked after the insurrection, but not before: How to regulate social media MORE on Wednesday met with pharmaceutical executives at the White House as the industry fights mounting efforts to lower drug prices.

Steve Ubl, the CEO of the Pharmaceutical Research and Manufacturers of America (PhRMA), as well as other drug company executives, used the meeting to voice their opposition to a White House-backed bill moving through the Senate Finance Committee that would lower drug prices.


House Minority Leader Kevin McCarthyKevin McCarthySasse, in fiery op-ed, says QAnon is destroying GOP Democrats seize on GOP donor fallout Boebert communications director resigns amid Capitol riot: report MORE (R-Calif.) and Rep. Mark MeadowsMark MeadowsAgency official says Capitol riot hit close to home for former Transportation secretary Chao Republicans wrestle over removing Trump Pressure grows on Trump to leave MORE (R-N.C.), the chairman of the conservative House Freedom Caucus and a close Trump ally, also attended the meeting. 

Trump has railed against high drug prices and has put forward a proposal to tie Medicare drug prices to lower prices in other countries, which PhRMA strongly opposes. Trump has also said he is working on an executive order on drug prices, though details are not clear.

The White House downplayed the implications of the meeting with drug company executives, saying Trump is not negotiating with them and that it was McCarthy who asked for the meeting.

"At leader McCarthy's request, the president hosted a meeting with PhRMA," the White House said. "The president does not intend to negotiate with PhRMA but listened respectfully."

McCarthy's office did not respond to a request for comment.

Politico first reported the meeting.

"We expressed our desire to ensure policy reforms result in immediate and meaningful savings for patients at the pharmacy counter, and we reiterated our opposition to the current Senate Finance Committee legislation because it fails to achieve this shared goal and imposes harmful price controls in Medicare Part D," PhRMA said in a statement.

The Finance Committee is scheduled to vote on the legislation on Thursday. Some GOP senators, as well as PhRMA, are objecting to a measure in the bill that would limit price increases in Medicare's prescription drug program, called Part D, calling the measure price controls.

Democrats and Finance Committee Chairman Sen. Chuck GrassleyChuck GrassleyImpeachment trial tests Trump's grip on Senate GOP McConnell about to school Trump on political power for the last time Overnight Health Care: Biden unveils COVID-19 relief plan | Post-holiday surge hits new deadly records | Senate report faults 'broken' system for insulin price hikes MORE (R-Iowa) say the provision is needed to bring down drug prices.