Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump and his administration with this weekly recap compiled by The Fly:
1. DRUG PRICING LEGISLATION: In his State of the Union address on Tuesday night, President Donald Trump called for legislation that would decrease prices of pharmaceutical drugs in the country. "It is unacceptable that Americans pay vastly more than people in other countries for the exact same drugs, often made in the exacts same place. This is wrong, unfair, and together we will stop it," the President said. "I am asking Congress to pass legislation that finally takes on the problem of global freeloading and delivers fairness and price transparency for American patients. We should also require drug companies, insurance companies, and hospitals to disclose real prices to foster competition and bring costs way down." Publicly traded drugmakers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Publicly traded healthcare insurers include Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG).
2. JOHNSON & JOHNSON: According to a report on Thursday by Associated Press' Linda Johnson, Johnson & Johnson will start giving the list price of its prescription drugs in television ads, making it the first drug maker to take that step. The company added that it would start with its popular blood thinner, Xarelto, the publication noted.
3. U.S.-CHINA TRADE TALKS: Also in his State of the Union address earlier this week, President Trump said a trade agreement with China will have to include "real, structural change to end unfair trade practices, reduce our chronic trade deficit, and protect American jobs." "We are now making it clear to China that after years of targeting our industries, and stealing our intellectual property, the theft of American jobs and wealth has come to an end. Therefore, we recently imposed tariffs on $250B dollars of Chinese goods - and now our Treasury is receiving billions and billions of dollars," he added. Meanwhile, CNBC's Kayla Tausche reported on Thursday that a meeting between President Trump and Chinese President Xi Jinping is "highly unlikely" to take place before the March 1 deadline the two countries set for reaching a trade deal. The Wall Street Journal said in an article published Thursday night that Trump's "outside advisors remain convinced the two sides will reach a deal, even if it is a limited pact."
"Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.