JPM: Pharma Must Change Tone Deaf Message On Pricing
This article was originally published in Scrip
When biopharma executives were asked during the 34th Annual J.P. Morgan Healthcare Conference what they thought of public concerns about prescription drug pricing, some dismissed it as a political issue and others offered the same old explanations about recovering the cost of developing innovative medicines, yet the industry appears dismayed about the ongoing uproar.
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Drug makers are under increasing pressure regarding the cost of their medicines, but instead of pointing fingers at payers for patients' out-of-pocket costs, the industry has shifted to a more collaborative tone, although some tensions will take time to overcome.
Scrip spoke with several executives and attended multiple panel discussions in San Francisco during the first full day of BIO's annual international gathering. Drug pricing and enabling innovation emerged as key themes.
After accelerated approval in the US in April based on Phase II response rates, the company will seek full approval later this year based on a tripling of progression-free survival in a Phase III trial.