Len Schleifer made something of a splash at an industry conference last December. The Regeneron Pharmaceuticals chief executive chastised Pfizer chief executive Ian Read over drug prices while participating in a panel discussion. Not surprisingly, their exchange received notice, since pricing is such a hot-button issue. Schleifer remains adamant, though, that brand-name drug makers can do better and he hopes to prove the point when his company launches a medicine for severe eczema. We recently spoke with him about drug pricing and the FDA, too. This is an excerpt.
Pharmalot: You made a point that companies shouldn’t be doing things like taking more than one price hike a year or a certain percentage. But what, if any, commitment has your company made or is willing to make?