Pharmaguy's Insights Into Drug Industry News
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Pharmaguy's Insights Into Drug Industry News
Pharmaguy curates and provides insights into selected drug industry news and issues.
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Former Washington Pol, Now CEO of BIO, Says Insurers Discriminate Against #Pharma

Former Washington Pol, Now CEO of BIO, Says Insurers Discriminate Against #Pharma | Pharmaguy's Insights Into Drug Industry News | Scoop.it

"Our industry has become an easy scapegoat for the real and growing problem of patient access to affordable new medications," Jim Greenwood, chief executive officer of the Biotechnology Innovation Organization, will say Wednesday at the group's convention in San Francisco, according to a copy of remarks obtained by Bloomberg News. "My friends, we are fighting back."

 

BIO planned to hand out fact sheets to attendees with talking points to be used in defense of the industry. One key focus will be an attempt to shift more responsibility to insurers, who have called attention to drugmakers' prices.

 

"Insurers have been throwing the pharma and biotech industry under the bus, which is short-sighted of them," Joshua Bilenker, CEO of Loxo Oncology Inc., said Saturday in an interview at the annual meeting of the American Society for Clinical Oncology in Chicago. "The insurance industry has squeezed the consumer to make them mad."

 

Insurers have instituted policies on drug reimbursement that harm patients, according to Greenwood's remarks.

 

"When insurers accept patients with pre-existing conditions -- only to refuse to cover innovative medications -- there's a name for that: It's discrimination," Greenwood, a former Republican congressman from Pennsylvania, plans to say.

 

Highlighting the frequency and costs of drugs that flop during development might not gain public sympathy, according to Washington Analysis' Loss.

 

"I'm not sure that the fact that they fail in a lot of the efforts they undertake would necessarily translate into the public feeling any compassion for the pricing, but it's certainly a story that needs to be told," he said.

Pharma Guy's insight:

Greenwood appears to put 100% of the blame on insurers and does not say anything about how much the drug industry - and especially Biotech companies - have raised drug prices recently (read, for example, “Rapid 164% Inflation in Price of Brand Name Drugs”; http://sco.lt/7qxNjN).

 

BIO joins PhRMA in campaign to counteract negative press. For more on that, read: #Pharma Ramps Up Ads & Lobbying to Fend Off Rx Pricing Regulation; http://sco.lt/5m9c9J and PhRMA Exploits, er, Features 5-Year-Old with Diabetes in "Hope" Ad Campaign; http://sco.lt/76LFBp

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Biopharma Gets a "D" Grade for Gender Diversity in Exec Suite

Biopharma Gets a "D" Grade for Gender Diversity in Exec Suite | Pharmaguy's Insights Into Drug Industry News | Scoop.it
The biopharma industry doesn't do a very good job when it comes down to the way it handles gender diversity. And if you're a woman in this business, chances are you have a distinctly bleaker view of things than your male colleagues. That's the bottom line from last week's informal survey from FierceBiotech.
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