Profits at the drugmaker Merck surged in the fourth quarter, and the company CEO told investors that a “constructive” meeting with President Donald Trump focused on reducing taxes and relaxing regulations.
Merck CEO Kenneth Frazier on Thursday said he’s encouraged by an initial meeting he and other pharmaceutical executives had Tuesday with Trump, who has said drugmakers have been “getting away with murder” on drug prices.
The pharmaceutical industry has come under fire in recent months over soaring drug prices, which have been blasted by patients, doctors, politicians and others. Drug companies and investors have been alternatively worried that the Trump administration and Congress will move to reduce prices, and cheered by hopes that they will help them increase profits by reducing taxes and reducing regulations so they can bring new drugs to market faster.
