Pharma CEO’s: No conscience required

KEY TAKEAWAY:  It’s time to admit that the majority of pharma CEO’s could care less about employees, customers and patients and are only interested in one thing: their massive ego’s and paychecks.

Need proof that pharma doesn’t give a damn about patients or employees?  Consider the following:

1ne: Allergan is letting go more than 1,000 staffers across its commercial team and other areas, it said in a Wednesday financial filing. It’s also axing about 400 jobs that aren’t currently filled, for a total job-cutting toll of 1,400.

2wo: [inlinetweet prefix=”” tweeter=”” suffix=””]Drug and device makers accounted for more than $900 million of $3.7 billion in settlements and judgments from civil cases involving fraud and false claims against the government in the fiscal year ending Sept. 30, 2017[/inlinetweet].

3hree: [inlinetweet prefix=”” tweeter=”” suffix=””]A handful of drug companies rang in 2018 with price hikes that easily surpass inflation[/inlinetweet], but stay conspicuously below double digits including:

  • AbbVie’s blockbuster Humira: 9.7%
  • Amgen’s arthritis medicine Enbrel: 9.7%
  • Allergan’s dry eye drug Restasis: 9.5%
  • Insys Therapeutics’ opioid spray Subsys: 9.5%
  • Biogen’s multiple sclerosis drug Tecfidera: 8%

4our: A survey of large drug purchasers showed drug prices will continue to rise. More than three-quarters of respondents also said there’s almost no chance U.S. drug price controls will occur in the next three years.

Pharma companies are basically shitting on employees and patients and they don’t really care what the public or politicians think.  Their attitude is “you need us more than we need you”.

Over the past year I have seen a lot of people at Lilly announce they are taking the severance packages.  These are people with a lot of experience and who once made Lilly a great company to work for.  Now, with a financial person in charge, they are just another, non-caring, big pharma company.

I think you have to have to have a screw loose to want to work in pharma today.  Your CEO’s are raking in boatloads of cash while you constantly worry about your job. [inlinetweet prefix=”” tweeter=”” suffix=””] The days of giving total devotion to patients and your employer are being replaced by devotion to a paycheck.  [/inlinetweet]