Donald Trump Takes On Drug Prices

Last week, President Donald Trump's long-awaited speech on how he plans to rein in drug prices was delivered, and while he outlined some moves that could crimp drug costs, his plan didn't include giving Medicare widespread power to negotiate prices nor did it include a plan to allow drug reimportation from lower-cost countries. The absence of these policies doesn't mean that these ideas are off-the-table permanently, but it may signal to investors that it's best to stay the course and hold onto their biotech and pharmaceuticals stocks, rather than sell them.