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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Pharma late again

KEY TAKEAWAYS:

  • 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.
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Challenges await pharma in 2019

  • 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.
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