Trump Regulators Help Pharmaceutical Companies Block Shareholder Questions About Rising Drug Prices

[fog]

[QUOTE]
A week before his inauguration, Donald Trump said that when it came to drug prices, pharmaceutical companies were “getting away with murder” — and he pledged to take decisive action to reduce the rising cost of medicine. Six weeks into his presidency, though, his government has moved to help drug companies block shareholder initiatives designed to help bring more scrutiny to drug price increases.

With drug prices skyrocketing in the United States, investor groups last year filed shareholder resolutions with 13 drug companies that — if passed — would force their boards to more meticulously detail their price increases for major medicines, and to provide “the rationale and criteria used for these price increases.” Days after Trump met with pharmaceutical industry CEOs at the White House, the Securities and Exchange Commission endorsed drug companies’ moves to block the resolutions from being voted on by shareholders at their annual meetings. The SEC move followed Trump promoting Republican SEC commissioner Michael Piwowar to serve as acting chairman of the agency.[/QUOTE]

[url]http://www.ibtimes.com/political-capital/will-drug-prices-come-down-donald-trump-promised-his-regulators-help[/url]

[God of Ashes]

list of surprised people:

[Eskill]

What a fucking cocksucker.

[StrawberryClock]

Holy shit, is he fucking helping corporations not even be accountable to SHAREHOLDERS?!

[SaberVS7]

[QUOTE=StrawberryClock;51918786]Holy shit, is he fucking helping corporations not even be accountable to SHAREHOLDERS?![/QUOTE]

Not being accountable to shareholders happens to be a bit of a specialty of Mr. Trump's.

[Headhumpy]

I really don't know how you could justify this when the [i]shareholders[/i] themselves are asking for more accountability and transparency, and he goes and blocks them.

[Zyler]

Now Trump isn't just helping the 1% screw over the 99%, he's also helping the 0.1% screw over the other 0.9%.

[Raidyr]

[QUOTE=Zyler;51918829]Now Trump isn't just helping the 1% screw over the 99%, he's also helping the 0.1% screw over the other 0.9%.[/QUOTE]

Holy fuck, ninth dimensional Jenga in action.

[HumanAbyss]

I'm sure this is good for business

I'm sure we're going to get an explanation of how this is actually a really, really good thing

[Chonch]

The SEC is right to be putting out "no action" letters on this. Product pricing, while a good company valuation tool for outsiders, is not considered a voteworthy activity by the SEC--the Feds have no jurisdiction here under their own law. I'd be surprised if Trump had anything to do with this personally. Shitty act by the company, though.

[HappyCompy]

Here's a question: why, in 2017, is it illegal for U.S. citizens to import drugs from other countries? It's a protectionist policy that only protects Big Pharma.

[PsychedelicLiz]

At this point I'm almost numb to the stupid shit he does. Is this his plan? A war of attrition?

[Bald & Beautiful]

[QUOTE=HappyCompy;51919509]Here's a question: why, in 2017, is it illegal for U.S. citizens to import drugs from other countries? It's a protectionist policy that only protects Big Pharma.[/QUOTE]

you answered your own question