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U.S. Healthcare May Slip as Trump Renews Call to Cut Drug Prices

Feb. 6, 2019, 2:08 PM

U.S. health-care stocks may follow European drug-making peers lower after President Trump renewed his call to bring down drug prices even as the Street said his address revealed no new surprises.

Trump’s State of the Union address gave little assurance that a bipartisan compromise could be reached. Any inroads with Democrats will likely be limited given the high level of skepticism and lack of political incentive for a major compromise, Evercore ISI equity analyst Michael Newshel wrote.

Meanwhile, the lack of enthusiasm seen by Senate Majority Leader Mitch McConnell also bodes poorly for any change. McConnell was not clapping during...

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