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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