Pharma companies get "Trump"ed!

Dr.Reddy’s and Sun Pharma are amongst the top losers. The pharma index, which is known as the BSE Healthcare Index is down 1.3% and almost all the drug making companies, except for Biocon and Gufic are in the red.

Blame it on Trump! After automobile and IT, the US President-elect has said that he will mend the ways in which the pharma companies in USA work, with most of them setting shop out of the country but selling at higher prices in USA.

In Press Conference yesterday, he said that pharma companies were getting away with murder when it came to drug pricing and he plans to change all that. He said that despite being the world’s largest market for pharmaceuticals, America does not bid properly and works at the behest of the lobbyists. He said once he takes charge all that will change and US firms will start bidding and save billions of dollars.

The Indian pharma companies are jittery after this rant of Trump as for most USA is their biggest market.