CAMBRIDGE, Mass. — Biopharma’s reputation is, objectively speaking, the worst.
And on Thursday, several biotech CEOs said in no uncertain terms that they believed that negative reputation was earned — particularly because of some drug pricing decisions.
“Unfortunately, I think the industry has earned it. I think there has been and continues to be bad behaviors,” said Nick Leschly, the chief executive of Bluebird Bio, speaking at the STAT Summit on Thursday.
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I would like to know on what basis, (facts, data, polling. etc) these three CEOs have based their views on the biotech industry’s reputation? Or are they reacting to press stories about prices on individual drugs? The Gallup study included in this story refers to “pharma,” not specifically biotech. If we don’t make the distinction you really can’t expect the public to do the same.
Leschly’s company Bluebird Bio sells a drug that costs $1.8 million. Yes, it’s a potential cure for a rare disease, so who knows what’s fair. But it might be worth noting that in an article where he complains about profit-taking from other unnamed firms.