A Deal on Drug Prices Undone by White House Insistence on ‘Trump Cards’ [The New York Times]
Johnson & Johnson (JNJ)
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Source: The New York Times
WASHINGTON — After months of heated accusations and painstaking negotiations, the White House and the pharmaceutical industry neared agreement late last month on a plan to make good on President Trump’s longstanding promise to lower drug prices.The drug companies would spend $150 billion to address out-of-pocket consumer costs and would even pick up the bulk of the co-payments that older Americans shoulder in Medicare’s prescription drug program.Then the agreement collapsed. The breaking point, according to four people familiar with the discussions: Mark Meadows, Mr. Trump’s chief of staff, insisted the drug makers pay for $100 cash cards that would be mailed to seniors before November — “Trump Cards,” some in the industry called them.Some of the drugmakers bridled at being party towhat they feared would be seen as an 11th-hour political boost for Mr. Trump, the people familiar with the matter said.White House officials insist they didn’t plan to emblazon the president’s name on the c
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- 4/16/24 - Beat
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Sec Filings
- 4/16/24 - Form 8-K/A
- 4/16/24 - Form 8-K
- 3/27/24 - Form PX14A6G
- JNJ's page on the SEC website