The Spectacle Of Trump: Tweets, Insults And A Year Pharma Won't Forget
From "getting away with murder" to "rip-off drug prices," pharma had its share of face-offs with President Trump in 2017. In the end, industry appears to have fared well under the pro-business leader, with industry insider Alex Azar now heading HHS and corporate tax reform a new year treat for industry.
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It's the time of year when many drug companies raise prices on mature medicines, and Allergan is one that raised prices on several drugs in its portfolio by 9.5%, just barely keeping to its social contract with patients.
Some of pharma's biggest names debated the pressing issues impacting industry, including pricing, image and the inter partes review system. Then, a cancer patient stood up and asked a question that reminded everyone of the issues facing patients.
The nomination of a former drug industry executive to run HHS is obviously good news for the biopharma sector, but it does not mean that HHS will do nothing about drug prices. On the contrary, it may make some high-profile action against pricing outliers all but inevitable.