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AMGN - Biotechs and biopharmas under pressure ahead of Trump order on drug prices
Amgen Inc.
Biopharma and biotech players are mostly in the red (again) ahead of an expected executive order from President Trump aimed at corralling U.S. drug prices. Specifically, the order will contain a "favored nation" clause that will be the basis for Medicare reimbursement, i.e., the reimbursement rates will match those in the country paying the lowest prices instead of an index of drug prices from around the world.
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