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Trump to delay executive order on drug pricing until after Senate vote on healthcare bill

Jun. 20, 2017 2:53 PM ETPPH, IXJ, PJP, IHE, XPH, IRY, GRX, BIB, BIS, BME, GNRX, ARKG, CNCR, THWBy: Douglas W. House, SA News Editor7 Comments
  • CNBC's Meg Tirrell reports that President Trump will probably wait until after the Senate votes on the American Health Care Act before issuing an executive order aimed at prescription drug pricing. According to people familiar with the matter, Trump's approach will not be a total shake-up, such as allowing Medicare to negotiate drug prices, but will include less drastic measures like value-based pricing.
  • Biotech investors are getting much more comfortable and supportive of new FDA Commissioner Scott Gottlieb, M.D. as he drives change through the bureaucracy to speed approval of new therapies and increase competition. One major initiative that has everyone's attention is new guidance on drugs that target specific molecular targets, regardless of location of the disease. Merck's KEYTRUDA (pembrolizumab), for example, was recently approved to treat cancers with a genetic footprint called microsatellite instability-high or mismatch repair deficient.
  • ETFs: BIB, GRX, THW, BIS, CNCR, IXJ, BME, IRY, ARKG, PJP, IHE, XPH, PPH, GNRX
  • Update: The healthcare bill will be released on Thursday with a possible vote next week.
  • Update: Senate Majority Leader Mitch McConnell says the bill will move to the Senate floor after the Congressional Budget Office has assessed its cost and impact, "probably next week." It is unclear whether the GOP has the votes for passage.

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