Clinton plan “negative for innovation”, says Pfizer CEO
Democrat presidential candidate Hilary Clinton’s plan to tackle “unjustified price hikes” outlined last week is “very negative for innovation”, according to Pfizer CEO Ian Read.
The executive made the comments at Wells Fargo Healthcare Conference, remarking “the Clinton approach to healthcare drives you to a one-payer system, it drives you to rationing, drives you to a place where most consumers don’t want to be.”
Clinton’s proposal was spurred by recent pricing scandals, including Mylan’s hike of its EpiPen.
Read also stated his belief that any potential drug pricing overhaul will only happen in the context of a reworking of the Affordable Care Act, determined to a large extent by the composition of Congress and who wins the presidency.
“I think there is going to be a movement in this to increase overall transparency and to get a more efficient market-based system,” he said.
Evercore ISI policy analyst Terry Haines also pitched in on Clinton’s announcement, noting “anything like this would require Congress to create it, not Clinton to decree it. There certainly will be no action on drug pricing in any form, including this one, before mid to late 2017, and only then as part of broader ACA reform.”
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