Judging by the latest pricing data, Robert Hugin is still getting away with murder.
Last January, the Celgene (CELG) executive chairman sat alongside President Trump at a widely covered White House meeting to discuss pharmaceutical issues. The gathering was held shortly after Trump claimed drug makers are “getting away with murder” over their prices. And four months earlier, Allergan (AGN) chief executive Brent Saunders challenged other companies to hold their annual price hikes to single digits.
So what does Hugin do?
About the Author Reprints
Our scribe has correctly reported Mr Schmidt’s number for the price increases. The math, ‘as written,’ is … interesting – 1.00 x 1.08 x 1.017 x 1.09 = 1.1978, at least on my simple calculator app. That 19.8 pct seems higher than the 14.1 pct that Mr Schmidt calls out … perhaps ‘average’ is what does it but the effective increase would be a hair below 20%. (Even simple addition yields 18.7% but …)