Hello, everyone, and how are you today? We are doing just fine, thank you, as a warm and shiny sun envelops the exceedingly quiet Pharmalot campus this morning. The solitude is welcome, though, since we have the opportunity to bear down on the ever-growing to-do list. Of course, we are helped along by a few cups of stimulation. Feel free to join us. Meanwhile, here are some tidbits. Hope you conquer the world today, and do stay in touch …
Teva Pharmaceuticals is expected to name Pascal Soriot, who currently heads AstraZeneca, as its next chief executive officer, Calcalist reports. His salary will reportedly be almost double the $5.7 million that former CEO Erez Vigodman was paid in 2015, and he will receive a signing bonus estimated at between $15 million and $20 million. Soriot, 58, has been running AstraZeneca since 2012, although the company has been struggling.
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Ed, there a couple of problems with indication based pricing. The first one is the potential for collusion. If two drugs have the same indication and high therapeutic importance, if one jacks up it’s price the other will be able to do so unfettered.
The other problem, though in hindsight is the fact that with some drugs, particularly oncology drugs and anti TNF’s the number of Rx’s for off label use exceed those for labeled indications. Best example is Humira, which was approved for one indication 15 years ago, rhematoid arthritis, and has grown to 9 indications. All through these years Humira was used off label for these other future indications, enabling Abbott to rack up over $100 billion in sales, in no small measure due to off label prescribing.
Hi Pharmvet1
All good points. Fodder for down the road, in fact.
regards
ed at pharmalot