AbbVie CEO compensated on delaying Humira competition

  • Richard Gonzalez, C.E.O. of AbbVie, told a congressional hearing that his pay was tied to the price of the company’s drug for rheumatoid arthritis and other conditions, Humira.
  • The annual per-patient cost of Humira doubled between 2012 and 2018 to $38,000.
  • In 2016 the $3.3 billion spent on the drug by Medicare and Medicaid accounted for 31 cents of every dollar spent on Humira in the U.S.
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Pharma’s “golden handcuffs”

KEY TAKEAWAY: Many of the highest-paying employers in the health-care sector—and the entire S&P 500—were biotech companies, according to an analysis by The Wall Street Journal of annual disclosures for hundreds of big U.S. companies. While pharma may argue that these salaries are needed to attract talented people who take a job for salary alone usually are bound by “golden handcuffs”

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Obese? You’re on your own

KEY TAKEAWAY: 71% of healthcare professionals believe that people with obesity are not interested in losing weight. “Obesity is one of the most complex, chronic health challenges faced by our society today, yet the current approach to obesity management falls short compared to other similar chronic diseases,” commented Professor Ian Caterson, ACTION IO lead investigator and foundation director of the Boden Institute at the University of Sydney.

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What did pharma think was going to happen?

KEY PONTIFICATION: The all front attack against pharma drug pricing is going to de very little to lower overall healthcare costs but politicians are not about providing REAL results, they are all about getting re-elected. Pharma companies largely ignored the gathering storm clouds and went about business as usual which is resulting in new restrictions that are going to limit innovation.

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Patient advocacy groups wrong on drug prices in DTC ads

KEY TAKEAWAY: Drug prices in TV ads don’t mean a damn thing and may scare patients away from needed prescription drugs to treat health problems. Until we address the lack of transparency around drug costs adding the list price to ads is like trying to nail jello to the wall.

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Earning the trust of patients

  • Edelman’s annual trust barometer research recorded an increase of 6 points in the U.S. that helped pharma reach a new rating score of 44.
  • The industry would need to reach 50 to get to neutral territory and to 60 to be considered trusted under the Edelman ratings.
  • Overall, trust in healthcare—which includes pharma, biotech and life sciences, hospitals and clinics, insurance and consumer health—increased by 8 points in the U.S. to reach 61.
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