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President Trump’s big drug price speech boosts pharma stocks

After weeks of build-up, drug industry watchers began to have real concerns about President Donald Trump’s big drug price speech on Friday.

Those fears turned out to be for naught.

Trump described the plan, called “American Patients First,” as the “most sweeping act in history,” but his speech had more harsh rhetoric for U.S. drug system players than detail about the policy changes.

Many of the changes that were mentioned on Friday had been raised before by his administration, including drug price negotiation for certain government programs. Other proposals seemed unlikely to significantly bring down drug prices in the near-term, which Trump described as a goal of the plan.

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