The 2020 election isn’t entirely settled, but one clear winner has emerged: the health care industrial complex.
The past few years under President Donald Trump has shown how much money the industry can make from America's health-care status quo. Annual gross profit at the 25 most valuable health companies jumped by about $80 billion over the first three years of his term to more than $650 billion.
America is a critical market, not just because of its size and economic strength, but because it's a spendthrift. Health coverage is split between different government programs and private sources like employers. As such, there is little negotiating leverage or ability to control prices. As a result, drugs and procedures cost more in the U.S. than any other other developed nation.
Biden is a threat to this upward slope. His drug pricing plan would limit the launch prices of new medicines and allow Medicare to negotiate with drugmakers directly. In combination, this could pose a real problem for pharma.
But all of those plans are likely to die on with Republican Senate majority. And, there's only so much Biden could accomplish with executive actions.