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Pfizer’s Read Criticizes Rebates Amid Changing Market Dynamics

 
• By Jessica Merrill

Pfizer CEO Ian Read suggested it might be time for a new solution that would allow the pharma industry to moderate pricing based on volume without relying on rebates, criticizing a practice he said has become “less helpful” in getting cost effective solutions to patients.

Pfizer Inc. CEO Ian Read offered some negative commentary about industry’s long-standing practice of using rebates to negotiate drug prices with payers during the company’s third quarter sales and earnings call Nov. 1

“Rebates have served an important contribution to allowing negotiations on volume-related transactions,” he said, but “I think they are now becoming less helpful in getting cost effective solutions to patients.”...

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