Barry Werth, who has written two fine books about the biotech company Vertex,and says the the reason pharma raises prices is simple: “Because they can.”. Continue reading
KEY TAKEAWAY: Shares of biotechnology and pharmaceutical companies retreated after President-elect Donald Trump vowed in a magazine article to crack down on drug prices. Drug stocks fell after Mr. Trump was quoted in a Time Person of the Year article as saying: “I’m going to bring down drug prices.” Better put that champagne on ice. Continue reading
KEY TAKEAWAY: Pharma CEO’s are NOT celebrating the election of Donal Trump and are in fact worried about the incoming administration’s stance on drug pricing. Continue reading
KEY TAKEAWAY: The major contributor to soaring drug list prices is continual and progressive rebating demands by Big Insurance and the PBMs. Continue reading
Wall Street investors, from 2012 to the middle of 2015, have poured more than $50 billion in new capital into the pharma industry, according to Leerink, an investment bank that does equity research. That influx of cash shifted the character of the industry, says John Rother, head of the nonpartisan advocacy group National Coalition on Health Care. Instead of focusing on time-consuming R&D, drug companies began worrying more about delivering short-term gains to shareholders, he explains. Continue reading
KEY TAKEAWAY: As drugs for many common conditions lose patent protection and face generic competition, branded drug companies increasingly are relying on revenue from drugs for serious and sometimes rare conditions, a class of medicines known as “specialty drugs.” However, these specialty drugs can cost tens of thousands of dollars but in an era of “healthcare consumerism” DTC ads are not going to help overcome sticker shock.
KEY IDEA: Biopharma has to understand it has responsibilities to a wider community than its own shareholders. Using PR talking points only serve to make pharma executives feel good about themselves while the public and politicians zero in on high drug prices and a lack of transparency. Continue reading