Trump to meet drugmakers about coronavirus
Drugmakers are warning about coronavirus impact on business
President Trump will hold a White House meeting on Monday to discuss the coronavirus with pharmaceutical executives.
The concern is the prospect of a widening epidemic at home. Health officials in Washington state said Sunday night that a second person had died from the coronavirus — a man in his 70s from a nursing facility near Seattle where dozens of people were sick and had been tested for the virus.
Trump's coronavirus task force, led by Vice President Mike Pence, will meet at 4 p.m. eastern time. Pence and coronavirus response coordinator Deborah Birx will hold a briefing following that meeting, according to Bloomberg.
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Drugmakers are becoming concerned that their businesses will be affected by the spread of the coronavirus.
The supplies that drugmakers need to produce certain drugs could be affected depending on how long the epidemic lasts, according to the Wall Street Journal.
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When supply lines are impacted, it will have a negative effect on financial results. Pfizer said that in a filing on Thursday.
Merck said in a securities filing Wednesday its first-quarter sales will suffer due to the epidemic in China.
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The Food and Drug Administration has already said that one drug is suffering a shortage due to trouble getting ingredients from areas affected by coronavirus. The FDA did not name the company or the drug.