Trump’s drug-price crackdown may lead to minor concessions, WSJ reports

President Donald Trump recently signed an executive order aimed at lowering prescription costs, which, on the surface, appears to be an ambitious attempt to rein in America’s high drug spending, David Wainer of The Wall Street Journal reports. Yet, Trump’s announcement lacked policy detail and the pathways to overhauling drug spending in the U.S. mostly run through congress. As with much of his other deals, Trump’s threats can give way to negotiated settlements with minor concessions that will allow him to declare victory. Publicly traded drugmakers include AstraZeneca (AZN), Bristol Myers (BMY), Eli Lilly (LLY), Novo Nordisk (NVO), GSK (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Companies involved the sale of pharmaceuticals include CVS Health (CVS), Cigna (CI), UnitedHealth (UNH), Cardinal Health (CAH), McKesson (MCK) and Cencora (COR).