- There has been a transformation within the pharma industry during the last decade.
- Although they say that patients are first their actions indicate that Wall Street is first.
- It starts with CEO’s that are over compensated and brainwashing employees to believe their products benefit all of us.
- Career “pharma employees” are hurting the industry while people who understand the challenges are being driven out of the industry.
- Phony pharma awards don’t help acknowledge the problems of the industry.
(PhRMA) president and CEO Stephen J. Ubl issued the following statement on President Donald Trump’s drug pricing blueprint: “These far-reaching proposals could fundamentally change how patients access medicines and realign incentives across the entire prescription drug supply chain. While some of these proposals could help make medicines more affordable for patients, others would disrupt coverage and limit patients’ access to innovative treatments”. Folks, that is chutzpah. Continue reading
KEY TAKEAWAY: “Big data is the driving force behind industry 4.0. “Leveraging big data is the key to ensure that we can serve the patient, make sure they have the right drug product that it is personalized to them, but also that we as an industry have controls. (PwC’s Scott Lawson) I’m not so sure Continue reading
KEY IDEA: Agencies make a lot of money from pharma companies, but they can no longer to afford the industry we love be dragged down by companies that continue to make decisions. We have to be honest and open and tell pharma that they continue to dig deeper holes even as they talk about being patient centric. Continue reading
KEY SUMMARY: “Any formal lobbying by companies of Congress or Cabinet agencies must be reported and disclosed quarterly. Novartis’s outreach to Cohen — who isn’t part of the administration, isn’t a registered lobbyist and isn’t an expert in the telecommunications or pharmaceutical industries — falls into a secretive, gray area of influence activity that ethics experts charge is ripe for abuse.” Continue reading
KEY SUMMARY: In 2001, Acthar sold for about $40 a vial. Today: more than $40,000. An increase of 100,000 percent. 60 Minutes added more fuel to the fire and it’s just another reason why the drug industry is headed for a very rude awakening. Continue reading
KEY TAKEAWAY: There are 540 billionaires in the United States, with a combined net worth of $2.399 trillion, according to our 2016 list of the world’s richest people. That’s more billionaires and more combined net worth than any other nation in the world. What if half of them decided to donate $10 million to a program to bring free healthcare to those who can’t afford it in the US? Continue reading