ASSOCIATED PRESSThe Trump administration has shelved a proposal that would have stymied egregious price hikes in the Medicare prescription drug program. It’s a major win for the drug industry, and a defeat for Trump’s goal of reducing drug prices. There is no other way to describe this than defeat for Trump’s drug pricing agenda, and victory for drugmakers who want infinite pricing power. The Trump flinch could give momentum to Democratic efforts to expand the role of Medicare in negotiating drug prices. Nonetheless, this Congress has a unique opportunity to build a bipartisan consensus around drug pricing.

Source: Forbes May 17, 2019 11:02 UTC