“Pharma has a lot of lobbies, a lot of lobbyists and a lot of power,” he said during the opening remarks of his first press conference since the election.

Several drug companies have been under congressional scrutiny for raising the prices of their products, and in recent years spending on drugs has grown significantly faster than other areas of medicine.

As a solution to get costs under control and save “billions of dollars,” Trump said he would “open up more bidding for medications.”

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