In President-elect Donald Trump’s first post-election press conference, he launched an attack on the pharmaceutical industry, calling for manufacturing facilities to return to U.S. production.
“I think a lot of industries are going to be coming back. We have to get our drug industry coming back. Our drug industry has been disastrous. They’re leaving left and right. They supply our drugs, but they don't make them here,” Trump said.
The criticism related to the foreign production and supply chain operations of some of the largest companies in the world. In response to his criticism, NASDAQ Biotechnology Index is down 3 percent.
Although it is not clear, the government seems to be the primary target of these remarks. Those in the public sector are commonly fingered for dysfunctional purchasing processes.
For more details from the news conference, continue reading here.