The first round of Medicare drug price negotiations has come to an end – but we still don't know the final prices that the U.S. government and pharmaceutical companies have agreed on.
They all maintain that Medicare drug price negotiations are a long-term threat to the pharmaceutical industry's drug innovation and profits, but the immediate dust has somewhat settled.
That's based on executive commentary during the recent quarterly earnings calls of Bristol Myers Squibb and Johnson & Johnson , among other companies.
Novartis CEO Vasant Narasimhan said on July 18 that the short-term impact from Medicare drug price negotiations "might be manageable on our first set of drugs."
Executives at each of the drugmakers similarly emphasized their opposition to Medicare drug price negotiations on their respective earnings calls.
Persons:
Joe Biden, Johnson, Joe Biden's, Christopher Boerner, Bristol Myers, Robert Michael, We've, Michael, Jennifer Taubert, Vasant Narasimhan, Narasimhan, Bristol Myers Squibb's Boerner, Boehringer Ingelheim, Annika
Organizations:
National Institutes of Health, Medicare, Bristol Myers Squibb, Johnson, Pfizer, J, Novartis, Merck, Novo Nordisk, AstraZeneca
Locations:
Bethesda , Maryland, U.S, annikakim.constantino@nbcuni.com