More pharma companies sue US govt over the IRA
Chris Stevenson
Serial successful CEO, business leader, growth driver, margin and culture grower. Moving companies from OK to good to great, and leading teams to achieve great things
It is no surprise that more pharma companies, this week it is Astellas and J and J, are suing the US government over the Inflation Reduction Act sections that affect pharma pricing. View the J and J statement here
The law suits from Pharma, the PHRMA, and other bodies may delay the implementation of the bill. It may even stop it altogether. However, they will not address the fundamental issue the US government is trying to address, the increasing inability of people to pay for medicines. If you have read other articles from me you will have seen my focus on the increasing challenge of paying for medicines. Whether you are in the US or other developed countries, the picture is the same.
As a proud ex-Janssen employee, and as someone who has always respected the desire of J and J leadership to live up to their Credo I found one comment in their statement disappointing. it is this
"We believe that the IRA’s pricing provisions will constrain medical innovation, limit patient access and choice, and negatively impact the overall quality of patient care".
Today the high price of new drugs is contributing (not solely responsible) to the growing inability of patients to access medicines and to have choice. Inevitably patient care is challenged by this.
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This author sincerely hopes that while wanting to stop the IRA, which is of course a rightful option for the pharma industry, that companies like Astellas and J and J and the PHRMA and their large number of lobbyists are trying to promote a debate about the future, how affordability can be improved and innovation supported.
I recently saw a video clip of President Obama advising young business people, and he was asked for a single piece of advice. He said there are many people who can define the problem, many people who can tell you why something did not work, or why something will not work. He advised the young people to become the person that says "I've got this", "I will sort this out", "I will find the solution". This is what we need when it comes to the affordability of medicines, people to step forward and propose, debate, discuss the solutions, to put ideas forward.