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BIO CEO Warns About Government Pricing Measures at CLSA Event | BioSpace

When it comes to potential pricing controls of the pharmaceutical industry, Jim Greenwood, chief executive officer of BIO, grimly stated that “nothing good” was going on in the halls of power in Washington, D.C.

Addressing a crowd of stakeholders at the California Life Sciences Association’s “An Evening with Thought Leaders,” Greenwood noted that with national elections on the horizon, pricing rhetoric will intensify from candidates in both political parties. Several bills have been bandied about in Congress, but few pieces of legislation have moved forward due to the political divisions between the two chambers. Greenwood also pointed to some setbacks the White House has experienced regarding some of the plans it has put forth to bring down prices of drugs supported by the federally funded Medicare and Veterans programs.

Since before he was sworn in as president, Donald Trump has decried the list prices of prescription drugs. In 2017, he infamously said the pharmaceutical industry was “getting away with murder” when it comes to the list prices for drugs. Trump has used his Twitter feed to browbeat companies over price increases, such as Pfizer, and also flexed the power of the executive order. Trump has used or threatened to use executive orders multiple times to reign in pricing.

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BIO CEO Warns About Government Pricing Measures at CLSA Event | BioSpace.

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