BARCELONA, Spain – The new U.S. president has been in office for two months. During that time, he has – among other moves – pledged to reduce regulatory hurdles during a meeting with biopharma execs, sent biopharma stocks falling on a tweet on drug pricing, nominated an industry-friendly Scott Gottlieb as FDA commissioner and last week released a proposed White House budget for fiscal 2018 that calls for a $15.1 billion bite out of the Health and Human Services budget, including nearly $6 billion from the NIH.