Pharma CEOs in Davos put
brave face on Trump presidency
Send a link to a friend
[January 20, 2017]
By Ben Hirschler
DAVOS, Switzerland (Reuters) - Leaders of
the global pharmaceutical industry, blasted by incoming U.S. President
Donald Trump for "getting away with murder" on drug prices, are putting
a brave face on the challenges in their biggest market.
The following are comments from chief executives on U.S. pricing
prospects, based on Reuters interviews at this week's World Economic
Forum in Davos:
JOE JIMENEZ, NOVARTIS
"The new administration has been pretty vocal about supporting
innovation. They understand that when you spend money on research
and you develop intellectual property there needs to be some level
of return for that investment. I believe, based on who the
president-elect has put in place around him, that there is a clear
understanding of investment and return on investment."
KEN FRAZIER, MERCK & CO
"Pricing will remain a challenging issue for those of us who are in
the research-based pharmaceutical industry, as well as a challenge
for the overall healthcare system in terms of what it can afford."
"The tweets will be what they will be, but the subject matter of the
tweets has been a challenge before the election and I think it will
remain a challenge after the election."
ANDREW WITTY, GLAXOSMITHKLINE
"Clearly, the industry has an obligation to deliver value-creating
innovation and it needs to price it at a level that is deemed to be
"Industry has to price in an empathetic way. Just because you can
demonstrate value doesn't mean it is affordable."
[to top of second column]
SEVERIN SCHWAN, ROCHE
"If you provide true medical differentiation coupled with a strong
intellectual property position, I think the U.S. will continue to
reward this kind of innovation. If you don't offer that then,
frankly, I think it is the right thing that prices should come
OLIVIER BRANDICOURT, SANOFI
"It's very difficult to understand what all those comments and
tweets will end up being."
"It's going to probably be very difficult to issue legislation on
FLEMMING ORNSKOV, SHIRE
"I think we are in good position to prove the value of our products
but, of course, there will be challenges."
(Editing by Alexander Smith)
[© 2017 Thomson Reuters. All rights
Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.