Pharma lobby blasts Trump's 'socialized' drug pricing plan

The country’s largest pharmaceutical lobbying group said Thursday that President Trump’s plan to control drug spending would jeopardize access for seniors and patients with disabilities, likening the proposal to socialized healthcare systems in Europe.

“The administration is imposing foreign price controls from countries with socialized healthcare systems that deny their citizens access and discourage innovation,” said Stephen Ubl, president and CEO of the Pharmaceutical Research and Manufacturers of America, or PhRMA. “These proposals are to the detriment of American patients.”