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Pharma companies 'getting away with murder', says Trump

Comments knocked down shares of US biotech and pharmaceutical makers by about 2%

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US President-elect Donald Trump speaks during a press conference in Trump Tower, Manhattan, New York, US, January 11, 2017 (Photo: Reuters)

Reuters

Last Updated : Jan 11 2017 | 11:18 PM IST

US President-elect Donald Trump on Wednesday said pharmaceutical companies are "getting away with murder" in the prices that they charge the government for medicines, and promised that would change.

Trump has made few public comments about drug pricing since he was elected but his campaign platform had included allowing the Medicare healthcare program to negotiate with pharmaceutical companies, which the law currently prohibits.

The comments knocked down shares of biotech and pharmaceutical makers by about 2 per cent.

"We are going to start bidding. We are going to save billions of dollars over time," Trump said.