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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Mom & Son Are So Mad About Vertex's Pricey CF Drugs They're Taking On The CEO

Mom & Son Are So Mad About Vertex's Pricey CF Drugs They're Taking On The CEO | Pharmaguy's Insights Into Drug Industry News | Scoop.it

On Monday, Oklahoma-based journalist and mom Juliana Keeping traveled to Boston with her son to confront Jeffrey Leiden, the CEO of Vertex Pharmaceuticals. Keeping’s son, Eli, has cystic fibrosis, and she’s not happy that Vertex’s two-drug combo, Orkambi, costs $259,000 a year. So Keeping, who gathered more than 124,700 signatures on Change.org, presented Leiden with the petition, which reads simply “Stop price gouging our charity-funded drugs.”

Pharma Guy's insight:

Also read:“Patients, shareholders take aim at Vertex over drug prices & exec bonuses”; http://sco.lt/99INEX 

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Patients, shareholders take aim at Vertex over drug prices & exec bonuses

Patients, shareholders take aim at Vertex over drug prices & exec bonuses | Pharmaguy's Insights Into Drug Industry News | Scoop.it

Vertex, who is based in downtown Boston, got the kind of headlines that pharma has been trying to avoid.  Three stories, talk about the high price of their new CF drug and the urges shareholders to reject compensation packages for senior executives.


Vertex won US approval for a two-drug therapy called Orkambi that eventually could treat roughly half of the 30,000 Americans with cystic fibrosis but the price the drug at $259,000 per patient annually which is steep.


According to the Boston Globe “the question resonates with health insurers and consumer groups that have raised alarms about the soaring prices of specialty therapies for everything from cancers to rare genetic disorders. Vertex’s prices have come under scrutiny, initially in a 2013 article in a leading medical journal, partly because they seemed to crystallize the broader debate over how to hold down health costs while rewarding makers of treatments for relatively small numbers of patients.”

 

But that’s not the end of it.

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