INO Health & Biotech Stock Guide
BIOTECH, HEALTH & PHARMA NEWS
Ever since President Trump met with a group of pharmaceutical executives at the White House, the entire biotech cohort has witnessed a resurgence as of late. This meeting was perceived as a positive interaction between the nascent government and the industry on a whole. This coincides with a consortium of big pharma companies joining forces to address transparency on drug price increases. Allergan (AGN), J&J (JNJ), Novo Nordisk (NVO), Merck (MRK) and AbbVie (ABBV) have committed to limiting any annual drug pricing increases to less than 10%. J&J, AbbVie and Merck all published annual reports regarding its portfolio and the price increases they’ve implemented. This transparency coalition is a step in the right direction to appease the general public and governmental officials that have been very critical of drug price increases. To add icing on the cake, Amgen’s CEO stated “We look forward to working collaboratively with the new administration.” Pharmaceutical executives are being proactive to be part of the conversation and be present at the table when it comes to working with Trump and his hardline stance regarding jobs and drug prices. The collaborative approach will hopefully bode well for the industry as a healthy relationship is fostered perceived on Wall Street.