Trump’s Drug Plan Looks to Modestly Lower Drug Prices, Keeping Big Pharma and Biotech Moats Intact
Trump’s policy speech on lowering drug prices didn’t offer many specifics and focused mostly on reducing middleman profits and raising drug prices overseas. Based on the 2019 U.S. government budget proposal and the Council of Economic Advisors white paper on drug policy, we expect only modest negative headwinds to branded drug prices. We continue to view moats within Big Pharma/Biotech industries as intact, supported by strong pricing power for patent protected drugs. We view the branded drug gr...Bristol-Myers Squibb is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The company's products are sold worldwide, primarily to wholesalers, specialty distributors, retail pharmacies, hospitals, government entities and the medical profession. The company manufactures products in the United States and Puerto Rico and has manufacturing operations in two foreign countries. The company has products in the following therapeutic classes: hematology, oncology, cardiovascular and immunology. The company's pharmaceutical products include chemically-synthesized or small molecule drugs and products produced from biological processes, called biologics.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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