Janssen's Drug Pricing Report Emphasizes Value Of Rebates
As political pressure on pricing continues to build, Janssen's first-ever transparency report notes average list price increase was 8.5% in 2016; annual pricing parties are no longer 'raves,' Raymond James & Associates says.
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Boasting of 14 current or near-term blockbusters and success staving off Remicade biosimilars, Johnson & Johnson says its growth derives 100% from sales volume, not price increases. All the same, it continues call for slow pricing reform.
CEO Gorsky describes J&J’s approach to drug pricing and pledges to provide more detail in an annual transparency report. Investor pressure regarding the pricing debate continued during the Novartis earnings call. Value arguments expected to dominate pharma’s message.
The US FDA reports that the prescription drug user fee program met 27 of its 29 commitments by the end of FY 2021 and the biosimilar user fee program is on track to meet 16 of 27 of its performance enhancement goals.