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AbbVie’s Gonzalez Sounds Alarm On US Drug Price Negotiation Proposal

 
• By Joseph Haas

AbbVie posts solid quarter on strength of Skyrizi growth and continued US growth for Humira ahead of patent expiry. Imbruvica revenue continues to decline, however.

US drug costs: Medical capsules spilled out of an open capsule on dollar bills. High costs of expensive medication concept
AbbVie's CEO joins the charge opposing Congress's drug price negotiation proposal

Echoing concerns voiced by other biopharma CEOs about the potential impact of drug price negotiation legislation being discussed in the US Senate, AbbVie Inc. CEO Rick Gonzalez used the firm’s second quarter sales and earnings call on 29 July to say that a proposal to let the US government negotiate drug prices for Medicare represents not negotiation but price controls.

The Senate is working on an omnibus bill that may include provisions to allow the Centers for Medicare and Medicaid Services negotiate drug prices with sponsors after they have been on the market for a certain period of time

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