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”Continue reading
- The rate at which companies have been creating positions for a chief digital officer, or CDO, has slowed to a trickle
- Just 54 companies, or 2.2%, had created a new CDO position in 2018.
- It’s because, these days, that job is the responsibility of the entire organization.
- Pharma companies continue to view digital as a “tactic” rather than integrate digital into the whole organization.
IN SUMMARY: Millennials are the biggest demographic in the workforce but a career working in pharma is not high on their list. Pharma’s own culture continues to drive people away and allowing employees to wear jeans is not going to lead to a flood of resumes for open positions or keep them engaged.Continue reading
IN SUMMARY: Pharma has the help wanted sign out but very few people are biting because working in pharma often means back-to-back meetings, matrix decision making, and regulatory people who are inflexible.Continue reading
- Top Celgene executives will collect 2.5X their salary and bonus in cash if they leave after the deal with BMS closes.
- A new severance agreement was formalized days ahead of the buyout press releases.
- CEO Mark Alles will get three times his salary when he leaves.
- A Kaiser Family Foundation poll last March found that 80 percent of the country believes that prescription drug prices are unreasonable.
- Drug spending in the United States is slowing. Retail prescription drugs represent just 10 percent of the $3.5 trillion the nation spent on health care in 2017, according the Centers for Medicare & Medicaid Services. That’s an increase of just 0.4 percent.
- 90 percent of prescriptions in the United States are less-expensive generic copies of brand-name drugs.
- 83 percent of Americans insured by their employer had a plan with at least three prescription drug tiers, according to the Kaiser Foundation. The average co-pay for the highest tier was $110.
There are millions of people around the world who are living better lives because of the drugs that the pharmaceutical industry develops, but that doesn’t mean that the industry can continue to put Wall Street over patients.Continue reading