President Trump says drug makers are “getting away with murder” — and these days, there are few companies that better embody his frustrations than Celgene (CELG).

The drug maker keeps lots of cash overseas. It does some of its manufacturing abroad. Three times this year, it’s hiked the price of its best-selling cancer drug. And the man presiding over the company, Bob Hugin, donates lots of money to “political people,” which Trump has blasted as a bald attempt to curry favor with the establishment. (Though, inconveniently, Hugin has also donated to Trump himself.)

Unlock this article by subscribing to STAT Plus and enjoy your first 30 days free!

GET STARTED

What is it?

STAT Plus is STAT's premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.

What's included?

  • Daily reporting and analysis
  • The most comprehensive industry coverage from a powerhouse team of reporters
  • Subscriber-only newsletters
  • Daily newsletters to brief you on the most important industry news of the day
  • Online intelligence briefings
  • Frequent opportunities to engage with veteran beat reporters and industry experts
  • Exclusive industry events
  • Premium access to subscriber-only networking events around the country
  • The best reporters in the industry
  • The most trusted and well-connected newsroom in the health care industry
  • And much more
  • Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr.

Leave a Comment

Please enter your name.
Please enter a comment.

  • http://alph.st/b66333fb I think the 11% hike in Celgene’s product sales in the recent quarter is mainly because of the increase in their drug prices. Remember, on October 19th, Celgene had increased prices of Revlimid and Pomalyst drugs.

  • Are we still pretending that something Trump says has any meaning or purpose other than serving himself?
    He is like a used car dealer, if you like it red, he likes it red too, if you rant against imported cars he will too, and viceversa and so on.
    publicly despising pharmas to please voters and media. Being cozy and sweet while playing golf with pharma execs (as long as they let him win)

A roundup of STAT’s top stories of the day in science and medicine

Privacy Policy