Magazine Article | March 1, 2022

What Do You See As The Most Pressing Issue Biopharma Leaders Should Be Paying Attention To And Why?

Source: Life Science Leader

THE MAJOR ISSUE FACING BIOPHARMA CEOS IS DRUG PRICING, especially as Congress is debating potential ways to control the prices of prescription drugs. It is ironic that government is seeking to limit the ability of this important industry to operate at the very time that these are the companies that literally saved the world with vaccines and therapeutants to fight COVID-19. There are things that Congress could do to reduce the nation’s drug bill, for example, ensuring that patents have the finite life intended by law. In addition, more needs to be done to promote the approval and use of biosimilars. Generics are the biggest bargains in healthcare. But limiting the revenue of biopharma companies by instituting price controls will impact R&D investments and result in job losses in an industry that is “America’s jewel.”

JOHN LAMATTINA, PH.D., is the former president of Pfizer R&D and is now a senior partner at PureTech Health.