Interview With Rick G. CEO Abbvie Inc.
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Enough is enough. The obsession with our CEO's resume is absurd ! We (Leadership) have one metric for advancement: obtaining MEASUREABLE results of SUCCESS . That our CEO has achieved. All the immature banter here and on other sites MUST stop as it implies a level of dissatisfaction among our WORLD CLASS team. That we know is utterly not the case !
And as for the 'degree count' don't forget our leader also has FOUR (4) honorary PhDs. ! ! !
Haha! Are the honorary PhDs bought and paid for out of the same bucket he buys politicians and management that kisses his derriere?!?
Leadership has one metric for advancement: obtaining MEASUREABLE results of SUCCESS - TOTALLY AGREE
- hows that VPak launch workin out fer ricky... 51% market share was the target
AbbVie chief Richard Gonzalez joins the 10% price-hike pledge, but other CEOs aren't buying it
by Tracy Staton |
Jan 12, 2017 9:53am
Speaking at the J.P. Morgan Healthcare Conference, AbbVie CEO Richard Gonzalez said his company would limit 2017 price hikes to single digits.
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AbbVie joined the 10% price-hike pledge on Wednesday, following Allergan and Novo Nordisk, as the drug pricing debate sent biopharma shares reeling once again.
CEO Richard Gonzalez announced at the J.P. Morgan Healthcare Conference that his company, which makes the behemoth anti-inflammatory disease therapy Humira, would raise prices on its products only once in 2017, and then only by single-digit percentages.
The conference has been full of pricing talk, with some pharma execs specifically eschewing price-increase limits—and others outright mocking drugmakers’ moves to keep price hikes under 10%. As some noted, 10% still beats inflation by quite a margin.
“Promising to raise prices no more than 10% and then raising them 9.9% is not the answer,” Regeneron CEO Len Schleifer during his JPM presentation, adding that Regeneron does not raise the prices on its drugs. “A CEO gets up here and says, 'We price to value.' If that's true, why raise the price later that year, the next year? … The value hasn't changed.”
Meanwhile on Wednesday, President-elect Donald Trump shocked the drug industry at his first press conference since July, saying that pharma is “getting away with murder.” Trump promised to not only roll out competitive bidding for drugs but also pressure companies to manufacture their meds in the U.S.
Trump’s move bore out a warning from Allergan CEO Brent Saunders late last year, as many in the industry assumed that the newly elected president would be kinder to pharma than his opponent Hillary Clinton, who’d laid out several proposals for controlling drug prices. Saunders had been the first pharma chief to promise to limit price increases to 10% (and since has rolled out a slate of 9.9% hikes).
“Limit your price increases before we all face the impact of government regulation that stifles innovation and patient care,” Saunders warned in a Forbes op-ed.
Since then, Novo Nordisk’s North America chief, Jakob Riis, wrote a pricing manifesto of his own, pledging to limit price increases on insulin and further help patients who can’t afford their out-of-pocket costs. Like some other pharma executives, Riis also called out the drug supply chain—which routes drug-buying through pharmacy benefits managers, other payers, wholesalers and pharmacies—as a culprit in boosting prices, saying Novo would work with other industry leaders to reform the U.S. pricing system.
But many other drugmakers aren’t following suit. Also at J.P. Morgan on Wednesday, Mylan CEO Heather Bresch said her company isn’t interested in that approach; like Schleifer, she said a 10% limit is not the right answer.
Richard raised Humira almost 9% and stocks UP. He knows how to handle the street and Trump. Love this stock ,,,UP 96% since IPO
Humira increased prices over 26% since Dec2015.
- That's more than 12x inflation rate & Humira is NOT made in the US
- Ricky closed the Mass plant to move offshore
- isn't that the type of business model Trump wants to STOP?
-ricky did a awesome job and i personally love the kool aid
- Jeff Haas is awesome
- HCV is doing great
WE are part of the problem...Humira is out of control as far as price...for those of us with a soul it is disgusting how much we make on one drug.
RAISE IT MORE ! WE NEED ALL THE PROFITS WE CAN GET. HUMIRA KEEPS US EMPLOYED SO WHOEVER THE FOOL IS THEY DONT WORK HERE. F THE PATIENTS F THE SOUL F THE MOLE
> we'll find out tomorrow if Humira revenue meets market expectations
>would abbvie ever hire someone back that was let go ? i did an awesome job for the first month then it all went downhill.
This is a very caustic and abrasive post, very BAD for our image. PLEASE RETRACT !
Leadership will find the vile and filthy culprit who posted this IF it is actually a company employee. That said, , however, we are confident it is from one of our competitors without moral fiber.
HaHa! Does anyone in Pharma have moral fiber...AbbVie included???
Q416 Earning coming in tomorrow @ $1.22 and $6.92B earnings
Rick/Haas Rocks !!!!!!!!
Rick/Haas Rocks !!!!!!!!
- You Global HUMIRA sales increased 15.5 percent on a reported basis, or 16.2 percent operationally, excluding a 0.7 percent unfavorable impact from foreign exchange. In the U.S., HUMIRA sales grew 23.5 percent in the quarter. Internationally, HUMIRA sales grew 4.1 percent, excluding a 2.0 percent unfavorable impact from foreign exchange. Strong sales growth was driven by continued momentum across all three major market categories – rheumatology, dermatology and gastroenterology.
- Humira UP UP UP
FYI - My broker did some further analysis and has given a strong buy signal as
ROI (annualized) year over year on HUMIRA increased 46% THANK YOU RICK !!!
This Company is on a roll !!!
THANK YOU RICK !!!
Expect a healthy bonus
THANK YOU RICK !!!
But revenue was missed because HCV and Imbruvica fell short Stock DOWN $1.09
It will steadily move back up. Humira was the big question and it met and exceeded expectations Rickys still a Smart Dude !!