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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The voice of big pharma employees

  • 2018. For half a century, corporate America has been ruled by the gospel of shareholder capitalism, as proclaimed by Milton Friedman.
  • While most senior pharma company executives focus on the profits, many of the rank and file really want to help patients but are overruled because of ROI.
  • Pharma companies are not a good place to work.  Open offices and small raises often lead to a stressful work environment.

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Pharma has a huge problem beyond revenues

  • According to the Conference Board worldwide, only 13 percent of workers feel “engaged”—meaning enthusiastic at work and committed to their companies—according to Gallup, which has tracked this since 2000.
  • Employees are merely the fuel that generates sales growth.
  • If you’re living in fear of losing your job, then all of your decisions and actions are geared to preserving your job rather than taking risks.

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