As J&J Sees Continued Drug Price Declines, CEO Urges Slow Policy Change Via Trump's Blueprint
J&J told investors to anticipate negative net drug pricing of 4%-6% across its portfolio in 2018, following a 4.6% negative impact in 2017. CEO Alex Gorsky also cautioned against changing drug pricing policy too quickly.
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Positive top-line efficacy data from the CREDENCE study suggest the SGLT2 inhibitor slows the progress of chronic kidney disease in type 2 diabetics, a finding which may eventually have a positive effect on the sales performance of the diabetic therapy.
Pfizer Agrees To Roll Back Prices On 40 Drugs, Yielding To Pressure From Trump
After a conversation with President Trump, CEO Ian Read agreed to cancel price increases on 40 drugs that took effect July 1, to give the administration time to work on its blueprint for improving the health care system.
Trump Tries To Shame A Defiant Pfizer On Drug Pricing
President Trump called out Pfizer’s recent price increases on Twitter July 9. Pfizer was one of only four companies that took a second round of price increases in 2018, according to analysts at Morgan Stanley. CEO Read has long defended the industry's pricing practices, even as public criticism of the high drug prices has grown.