Pharma is hopeful about Trump's second term — here's what to expect for drugmakers

Drugmakers hope to see efforts that focus more on cracking down on pharmacy benefit managers while promoting drug innovation and patient access to treatments.

Those companies are particularly eager to see changes to a provision of Biden's Inflation Reduction Act that allows Medicare to negotiate drug prices with manufacturers.

Still, executives stressed they are ready to work with Trump , who some described as willing to hear out their grievances.

The pharmaceutical industry is hopeful that Trump could work with Congress to revise a piece of the IRA that allows Medicare to negotiate drug prices with manufacturers.

The Biden administration kicked off the second cycle of that process last week , unveiling the next 15 drugs selected for the price talks.

The industry will continue to fight the law in a flurry of legal challenges.

Kennedy 's anti-vaccine rhetoric is in "complete contradiction," Pfizer 's Bourla says.

Bourla said he sees potential to build programs that will accelerate development of cancer treatments.

Gilead CEO Daniel O'Day said the company's work aligns with the administration's focus on chronic diseases.