Top bio­phar­ma ex­ecs of­fer scare tac­tics and mixed mes­sages on drug pric­ing bills mak­ing their way to Capi­tol Hill

Top bio­phar­ma ex­ecs from Mer­ck, Eli Lil­ly, Take­da and in­dus­try lob­by­ing group PhRMA tried their best to per­suade the me­dia Wednes­day that drug price ne­go­ti­a­tion bills mak­ing their way through Con­gress this month will be cat­a­stroph­ic for the in­dus­try’s bot­tom line.

But the pitch fell al­most com­plete­ly flat, with Mer­ck’s ex­ec­u­tive chair Ken Fra­zier con­tra­dict­ing Lil­ly CEO David Ricks on which large com­pa­nies may take the largest hit, as the ex­ecs list­ed a gar­den va­ri­ety of scare tac­tics on how R&D will be cut in half, how mas­sive job cuts will fol­low and how pa­tient ac­cess will be se­vere­ly ham­pered.

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