After President Donald Trump said drugmakers were "getting away with murder" during his Jan. 11 press conference, leaders of the pharmaceutical industry responded with varying views.
Here are nine things pharmaceutical executives said about President Trump and the U.S. drug industry this week during the World Economic Forum in Davos, Switzerland, according to Reuters.
Joe Jimenez, CEO of Basel, Switzerland-based Novartis
1. "The new administration has been pretty vocal about supporting innovation. They understand that when you spend money on research and you develop intellectual property there needs to be some level of return for that investment. I believe, based on who the [president] has put in place around him, that there is a clear understanding of investment and return on investment."
Ken Frazier, JD, chariman and CEO of Kenilworth, N.J.-based Merck
2. "Pricing will remain a challenging issue for those of us who are in the research-based pharmaceutical industry, as well as a challenge for the overall healthcare system in terms of what it can afford."
3. "The tweets will be what they will be, but the subject matter of the tweets has been a challenge before the election and I think it will remain a challenge after the election."
Andrew Witty, CEO of London-based GlaxoSmithKline.
4. "Clearly, the industry has an obligation to deliver value-creating innovation, and it needs to price it at a level that is deemed to be acceptable."
5. "Industry has to price in an empathetic way. Just because you can demonstrate value doesn't mean it is affordable."
6. "If you provide true medical differentiation coupled with a strong intellectual property position, I think the U.S. will continue to reward this kind of innovation. If you don't offer that then, frankly, I think it is the right thing that prices should come down."
Olivier Brandicourt, CEO of Paris-based Sanofi.
7. "It's very difficult to understand what all those comments and tweets will end up being."
8. "It's going to probably be very difficult to issue legislation on drug pricing."
Flemming Ornskov, MD, CEO of Dublin-based Shire.
9. "I think we are in good position to prove the value of our products but, of course, there will be challenges."
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