March 16- U. S. stocks slipped on Thursday pressured by healthcare shares after proposals in President Donald Trump’s budget signaled higher regulatory costs for the sector and a cut in federal funding for medical research. For 2018, the Trump administration has budgeted over …
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(Updates to early afternoon)
March 16 (Reuters) – U. S. stocks slipped on Thursday pressured by healthcare shares after proposals in President Donald Trump’s budget signaled higher regulatory costs for the sector and a cut in federal funding for medical research.
For 2018, the Trump administration has budgeted over $2 billion in fees to be collected by the U. S. Food and Drug Administration from the industry, twice as much as in 2017, according to proposed budget documents released on Thursday.
The proposal calls for a scale back to the National Institutes of Health budget by nearly 20 percent and said industries that benefit from the FDA’s approval « can and should pay for their share.
