Posted by Michael Wonder on 22 May 2017
Pharma exec says industry must get fair about pricing new drugs
19 May 2017 - The head of Regeneron Pharmaceuticals is warning the controversy surrounding drug prices could cripple the country’s pharma industry if companies don’t start to lower prices on their own.
“Drug pricing has the potential to be the undoing of our industry. We’re not getting it right,” said Leonard Schleifer, chief executive of Regeneron, speaking yesterday at the Boston College Chief Executives Club.
Regeneron, based in New York, recently received FDA approval for a new drug to treat atopic dermatitis, a form of eczema that can be severe enough to lead to sleeplessness and depression. The company and its development partner Sanofi made waves when they negotiated the price directly with insurers before it was approved. The new drug will cost $37,000, less than other similar injectable treatments for skin conditions.
