Price increases- valeant is not alone

Lilly- The company reported the fourth-quarter revenue increase Thursday, with sales of Humalog insulin, a short-acting insulin used by consumers with Type I and Type II diabetes, leading the company’s U.S. pharmaceutical revenues with a 20% increase. That growth was “driven by higher realized prices, and, to a lesser extent, increased volume,” the company said.

Asked on the earnings call about the current debate over drug pricing, John Lechleiter, chief executive officer, said higher prices make sense because it helps the company fund the research needed to find better treatment methods or a cure.

“Yes, they (drugs) can be expensive, but disease is a lot more expensive,” Lechleiter, told analysts.

 

Yep but other companies do use a considerable portion of that money to fund research and development. Valeant only kept a few pre-acquisition programs going when all you need is to maintain the trials until it's over. Oh and they laid off all the development team but one or two clinical directors. To top that off, Valeant's CMO has a two-year Polish degree in medicine. You can't even land an entry level job with that at any other real Pharma.

 

Agree with the previous comment about Valeant's CMO - so very correct and true! On top of not having a proper degree in Medicine, the CMO has always fudged his resume to get positions in companies like Valeant. It is a pity that both the CMO and the Global Head of Safety have abbreviated degrees from Poland in Medicine and have limited knowledge and no clue on what's going on. Moreover both of these characters are liars and fraudsters.

 

In the Valeant Now reply about D.H.E. 45, Schiller and Valeant are justifying the price hikes due in part "to fund our robust research and development programs".

At the recent JP Morgan Healthcare conference Ari Kellen showed a slide that boasted Valeant has "100+" advanced degree professionals working in Valeant R&D, including people with "MD, PhD, PharmaD, JD, and DMD" degrees. 100 people with advanced degrees in R&D in a company with something like 20,000 employees? Not exactly robust. And what's with including lawyers (JD) in the count for R&D? I guess there have to be patent searches and so forth, but I wouldn't exactly count them as directing some sort of scientific r&d programs. Really weak.

 

Express Scripts is blocking Glumetza from its formulary starting 1 Feb 2016. Branded Glumetza will not be dispensed under any circumstances.

 

Showing JDs as scientists in a R&D organization is lying. No wonder the entre organization from top to bottom are liars and fraudsters!

 

The JD's in R&D are to protect the intellectual property (don't laugh). Otherwise, there's no value in the JD's other than for the lawsuits.

 

And what about the Director of Corporate Governance? What is her educational background?

 

True but I can tell you first hand that there aren't many patent attorneys in the organization at all. I watched nearly the entire legal department at B&L leave and they were virtually non-existent in the rest of the company.

 

oh please stupid!! there are lawyers in regulatory, compliance for r&d . Remember there is something called the FDA that has regs. Who do you think interprets those- finance?

 

Valeant is a Canadian company. They aren't worried about the FDA.

 

Representatives identified Pfizer, teva and other companies doubling the price of their drugs.
And payouts screw us every day
Whole system is messed up

 

Yes Valeant is not alone but other companies are not frauds like Valeant. Valeant middle level and senior level management should be put behind the bars and the company shut down after what they did with Philidor!

 

None she was a temp admin

 

She sure worked her way up the ladder....

 

who is she?

 

One good thing is the era of massive price increases in drugs is over. That's a silver lining