Government Healthcare Policy, Business and Technology

Trump kills trade deal that would have benefited pharma and potentially raised drug costs

Modern Healthcare: President Donald Trump has signed an order withdrawing the U.S. from the Trans-Pacific Partnership that has been contested by both healthcare companies and activists.

President Barack Obama had ended negotiations on the deal, which extends greater protection for pharmaceutical patents across a dozen Pacific Rim countries. Obama, however, failed to garner enough support in Congress to ratify its passage into law. Trump had pledged during his campaign to remove the U.S. from the partnership, which he called a “horrible deal.” It was also criticized by the Democratic presidential candidate Hillary Clinton.

The deal was never about “free trade,” but rather about protecting the interests of brand-name pharmaceutical companies, said Peter Maybarduk, director of Public Citizen's Access to Medicines Program. Moving forward, the Trump administration should encourage competition in the sector, he said.

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