Pharma and Politics
March 2, 2017

Drug Costs and Accountability in Our Changing Climate

“I’m going to bring down drug prices,” Trump told Time magazine, “I don’t like what has happened with drug prices.” Although biotech and pharmaceutical stocks initially rose after the election, the budding optimism drug makers enjoyed rapidly faded with Trump's comments regarding drug prices.  President Trump is not the only one concerned about drug pricing in the United States.  The increasing cost of prescription drugs has become a source of concern for patients, prescribers, payers, and policy makers.  Public outrage has intensified over recent decisions by companies to levy significant cost increases, such as the EpiPen pricing scandal.  Even pharmaceutical executives are feeling the sting over drug pricing.  Recently, Chief Executive Officer Leonard Schleifer of Regeneron Pharmaceuticals Inc. and Ian Read of Pfizer Inc. have argued over the role of drug pricing in the pharmaceutical industry.  Schleifer’s comment to Read over the cost of drugs: “You’re not entitled to a fraction of the GDP.” (more…)
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