You Work In The Pharmaceutical Industry; Here's Why You Should Care About The Novartis Payments
There's a lot of finger-pointing in the industry when it comes to why pharma has a bad reputation. Maybe it's time everyone who works in pharmaceuticals takes responsibility for it.
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Novartis joined Pfizer in agreeing to hold off on any further US drug price increases this year, saying the decision was prudent in the current environment. On Trump's drug pricing blueprint, Novartis said it is carefully monitoring how policy evolves this year before charting a course for 2019.
The earnings season is on us again with two heavyweights of health care hoping to show strong second-quarter results, while giving a glimpse into their prospects for the second half of the year. It will be Novartis' first chance to talk with investors about a new US Senate report regarding the company's dealings with Trump lawyer Cohen.
Wells Fargo analyst David Maris warned biopharma investors that the US drug market is on a long-term trajectory toward price controls, which he characterized as an under-appreciated risk for the sector, ahead of President Trump's speech on drug pricing.