“We need to pay more for medicine so we can develop more good medicine, so we can drive, through competition, lower costs,” Mr. Read said Tuesday at the World Economic Forum in Davos, Switzerland, according to CNBC.
What Mr. Trump and others don’t understand is that good drugs cost a lot of money to make, said Mr. Read.
“The pill is not the point,” said Mr. Read said. It’s simply a “delivery mechanism for knowledge” to cure a disease or illness. The pill is just the end point of a long research and development process, which costs a lot of money, according to Mr. Read.
Despite this opposition, Mr. Read is still optimistic about the incoming administration and gave Mr. Trump the benefit of the doubt, saying he has not yet been briefed much about competition in the drug industry.
More articles on supply chain:
Washington, D.C.-area hospitals desperate for blood donations ahead of inauguration
Target invests in supply chain tech startup
4 ways the FDA is working to boost diversity in clinical trials
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.