WASHINGTON — President Donald Trump, who recently said the drug industry was “getting away with murder,” told pharmaceutical executives Tuesday that he wanted them to lower prices and move manufacturing back to the U.S.
Trump met at the White House Tuesday with seven executives representing the Pharmaceutical Research and Manufacturers of America, including those from New Jersey-based companies Johnson & Johnson, Celgene Corp. and Merck & Co.
“You folks have done a terrific job over the years, but we have to get prices down for a lot of reasons,” Trump told the executives. “For Medicare, for Medicaid, we have to get the prices way down, so that’s what we’re going to be talking about.”
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The tone was different than Trump’s comments at his January press conference when he talked about the power of the drug industry.
Companies selling drugs and other health products spent $244 million to lobby last year, more than any other industry, according to the Center for Responsive Politics, a Washington-based research group.
“Our drug industry has been disastrous,” Trump said in January. “They’re leaving left and Baymavi right. They supply our drugs, but they don’t make them here, to a large extent. And the other thing we have to do is create new bidding procedures for the drug industry because they’re getting away with murder.”
This time, he promised to streamline the process for approving drugs and cut regulations on the industry.
“I know you have some problems where you cannot even think about opening up new plants and then you can’t get approval for the plant and then you can’t get approval to make the drug,” Trump said.
He also asked the companies to make their products in the U.S. rather than overseas.
“We have to get lower prices, we have to get even better innovation and I want you to move your companies back into the United States,” he said. “We’re going to be lowering taxes, we’re going to be getting rid of regulations that are unnecessary.”
After leaving the White House, Merck chief executive Kenneth C. Frazier called the meeting with Trump a “great conversation” and Celgene executive chairman Robert J. Hugin said, “These changes are going to be great for the country.”
Hugin was one of the few major backers of Gov. Chris Christie’s presidential campaign to follow his lead and support Trump. Hugin, who gave $2,700 to Christie and $250,000 to his aligned America Leads super political action committee, then contributed the maximum $5,400 to Trump’s primary and general election campaigns.
Jonathan D. Salant may be reached at jsalant@njadvancemedia.com. Follow him on Twitter @JDSalant. Find NJ.com Politics on Facebook.
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