• Pharma CEOs, because of compensation, put shareholders first at the expense of patients.
  • AbbVie’s CEO is compensated based on Humira’s patent protection.
  • Wall Street doesn’t really understand the drug development process and puts too much emphasis on short term profits.
  • Some forward-thinking CEOs are trying to implement change within their organizations but they can’t do it alone.
  • Pharmacy benefit managers said rebates paid by drug companies to PBMs, sometimes called “middlemen,” are “not secret or hidden payments”
  • Executives blamed high drug prices on the drugmakers and their pursuit of profits.
  • U.S. Healthcare Spending Reaches $420M Per Hour, On Track to Hit $12 Trillion by 2040.
  • 62 health care CEOs made a combined $1.1 billion in 2018 when calculating the actual value of cashed-out stock.
  • In the meantime Republicans are warning drug companies not to cooperate with probes into drug pricing.

KEY IDEA: Today some pharma CEO’s will go to Congressional Hill to answer questions about high drug prices. Politicians are conducting this charade because they want to give voters the idea that “they care” and that they are doing something. What won’t be discussed are the real reasons American healthcare is the most expensive in the world with poor results.