Sir Andrew Witty, the CEO
of Britain’s GlaxoSmithKline (GSK), the sixth largest pharmaceutical company in
the world, discusses the current period of ‘extreme challenge’ in the industry
and acknowledges the disconnect between the global push for affordable
healthcare and the current cost of needed medications. Specifically, he points
to the U.S.’s lack of transparency requirements as a major driver for the
issues that our country is facing today – an inability to determine the actual
price of a drug makes it impossible to determine a realistic cost-benefit
analysis for the system. Ultimately, he suggests, the system needs to balance
cost, value and innovation to ensure shareholders remain invested and patients
have access to the drugs they need.
Hear the podcast on it here.
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