PhRMA and Trump: war or peace?

HHS Secretary Alex Azar’s proposal to require price disclosures in television advertisements for drugs is forcing the biopharma industry to think hard about its relationship with the Trump administration. The fundamental decision is whether it can and should continue trying to come to agreements, overtly or covertly, with the president and Azar, or if their best alternative is to do battle.

This decision, which will likely come in the next two or three months, will be far more consequential than the outcome of the dispute itself. ...