Drugmakers Fight Trump Price Plan Said to Cost Them $1 Trillion

The pharmaceutical industry estimates President Donald Trump’s new drug pricing proposal could cost drug companies as much as $1 trillion over a decade, its largest trade group is telling members of Congress.

The idea, first floated last week by the White House as a way to help pay for the president’s tax cut plan, blindsided the pharmaceutical industry and has prompted a furious lobbying campaign.

It’s drawn the industry off the sidelines, with several senior executives preparing to barnstorm Capitol Hill this week, according to nearly a dozen industry lobbyists and consultants who were not authorized to speak publicly ...