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How do pharmaceutical companies retain any integrity? (See Purdue Pharma, for example.). The sky is always falling when it comes to giving Medicare pricing negotiation powers.
In no particular order, they could:
Reduce executive compensation
Eliminate stock buybacks
Eliminate rebates to increase price transparency
Reduce lobbying expenses
I’m tired of being a hostage to their price gouging.
If we do not come up with a pill or injection cure for obesity, diabetes, alzhemers & dementia we should just call it quits and watch the carnage happen. Cut off or restrict medical research by pharmacital companies and we are injuring ourselves. I totally agree that every country should pay the same price and not allow counties to use our patents for free. It is not our responsibility to pay for all of this. A uniform price is the best solution. – Steven Pettinga Indianapolis.
Amazing how any threat to Pharma revenue goes directly to less research. No other levers at all are available. 100 PTO days, gold plated comp, endless perks, are all off the table LOL
As a start, rather than reduce the research budget, maybe they could reduce the pay of the pooh-bahs in the executive suite.
Definitely could eliminate direct to consumer advertising. There’s a couple hundred million that could go directly from sales and marketing to R&D. Just trying to help.
Interesting thoughts coming from the guy who committed to Wall Street that he would cut R&D, and to make it happen he “enticed” 2000+ people to retire early with threats of cuts if people didn’t leave.
Corporate welfare, period.
I’ve always found it interesting that they develop products that without someone else picking up most of the tab( Insurance companies) that most people couldn’t afford them. Interesting pricing strategy .