Investors shrug off drug price talks’ effects
Investors unshaken by Medicare’s drug price cuts: Investors have remained calm despite Medicare negotiating a 22% reduction in net spending on some top-selling drugs, with the pharmaceutical industry expected to manage the impact without disruption to profits or drug development. “It’s not surprising to me that the markets haven’t come crashing down, because I think this process was not set up to bankrupt the pharmaceutical industry,” said Aaron Kesselheim, physician and attorney at Harvard.