Posted by Michael Wonder on 17 Jun 2017
Merck boss hits back at drug pricing criticism
15 June 2017 - European governments should spend more on drugs if they want to keep a lid on prices, the boss of global pharma group Merck has said.
Stefan Oschmann, chief executive of the $15bn (£13bn) revenue firm, which is based in Darmstadt, Germany and has a 1,400-strong UK arm, hit back at critics of high drug prices at an event in Brussels on Wednesday.
Rising drug prices have sparked scandals in a number of European countries in recent months, including in the UK – where Pfizer and Flynn were fined a record £84.2m and £5.2m respectively in December for ramping up the cost of an anti-seizure medication – as well as separate controversies in Germany and Italy.
