J&J Expects Persistent Pricing Pressure Into 2019
CEO Alex Gorsky highlighted growing public concern over US drug costs during J&J's Q4 earnings call, pressing for more transparency and value-based health care. The company's net drug prices declined more than 6% in 2018, he added.
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With Spravato's launch underway, J&J reports that 800 sites have been certified to administer the depression drug. Newer drugs drove pharma sales in the first quarter, while US sales of Zytiga declined 55% due to generic competition.
OTC drug sales grew worldwide 4.4% on an operational basis to $4.34bn, with US segment driving increase. US OTC sales jumped 7.8% to reach $1.85bn and international sales grew 2.1% to $2.48bn. J&J consumer segment got a lift from mid-year addition of Zarbees.
PhRMA unveiled a voluntary policy under which drug makers will provide information in DTC ads about how to access drug prices and cost information. But hours later HHS issued a proposed rule on the same topic, only requiring drug makers to include WAC prices in TV ads. .