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Japan drug price reforms risk hurting investment: Bristol-Myers CEO

9 Comments
By Rocky Swift

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Caforio said, “These decisions could impact whether the strong investment patterns in Japan continue and whether new medicines are rapidly available for Japanese patients in the future,”

Why not just bluntly say that the tactic of extortion is on the table, as Japan's decision would potentially impact your annual bonus of a Bugatti La Voiture Noire?

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But those changes are not science-based and favor large domestic drugmakers over foreign and smaller players, Giovanni Caforio told a news conference in Tokyo.

Nit surprised. Nothing new.

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I once knew a Pharma Sales Head of a major local company.... they argued that Japanese have different bodies to the rest of the Human species and that's why there's so many restrictions upon Foreign pharma products entering the Country...

Given the increased introduction of Foreign workforce persons, that argument would seem to be a bit weak nowadays.... but then this is Japan...

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@mmekdw

So true. I have heard the same.

Ad, body temperature is also different, that is why... (insert irrelevant information here).

I am surprised that I was able inter-breed into this other species at all.

That being said, I am also shocked by the amount of prescribed medication over here, and for the smalled sniffle. Of the various doctors that I have talked to, most prescribed medication is in the request of the patient. Either it is not needed yet demanded, or it is cheaper than the same at the pharmacy.

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I work in pharma and thought it would be stable but many companies are only a few patents away from bankruptcy. Millions in research can be stolen by a good chemical manufacturer in India, etc. I won't be surprised if many pharma go bankrupt soon. The new opportunity is personalized medicine but it may be hard to develop a business model where treatment is $100k per person.

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 I won't be surprised if many pharma go bankrupt soon. 

I find that hard to believe. Bankruptcy that won't happen.

Are pharmas not making a profit?

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They wouldn't risk diverting medicines away from Japan. While Japan is a small market, it is still one if the largest consumers of medication. So they are trying to optimize their bottom line. They wouldn't abandon that much money.

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80-90% of prescribed meds are sold as generics with little profit. The innovator companies fight to find new meds but easy pickings are over. I think the current model will collapse soon and more government support of research will be necessary.

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Just as long as drug prices are as low as possible for the average person, is what's most important.

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