Pfizer Inc Chief Executive Albert Bourla called U.S. plans to negotiate drug prices for its Medicare health program 'negotiation with a gun to your head' and said he expects drugmakers to sue in an attempt to halt the process.
Bourla did acknowledge some positive aspects of the law for patients, such as lower out-of-pocket costs for medicines.
As a result, investors are looking for Pfizer to produce new blockbuster drugs that can pull in billions every year, either from the company's own pipeline of medicines in development or through deals.to develop a vaccine for COVID as much of the world locked down in 2020. The company also developed Paxlovid, a life-saving antiviral treatment for the disease.
"Pfizer is giving all the profits that we made from COVID in '21 and '22 and what we will make in '23 to acquire technology and products that we believe will allow us to battle cancer," he said, calling the effort the drugmaker's "next moonshot.
As the company works to develop new drugs, Bourla raised concerns about a recent ruling by a judge in Texas that suspended abortion pill mifepristone's 2000 approval by the U.S. Food and Drug Administration. The U.S. Supreme Court put that order
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Is Elon Musk leaving Twitter? What we know'Excited to announce that I've hired a new CEO for X/Twitter,' the CEO tweeted.
Read more »
Document does not show Pfizer's Covid vaccine contains graphene oxideSocial media posts circulating worldwide have shared a document they falsely claim shows Pfizer's Covid-19 vaccine contains graphene oxide, a substance that has become the subject of anti-vaccine misinformation. But experts told AFP the document shared in the posts is unrelated to the Pfizer vaccine's ingredients. Its components are public and a spokesman for the pharmaceutical giant said graphene oxide is not used in the manufacture of its vaccines.
Read more »
Disney CEO Bob Iger Calls AI “Disruptive,” Difficult To Manage From An “IP Perspective”Disney chief executive Bob Iger weighed in on AI today, staying general but calling the battleground technology good for Disney’s business, but disruptive. “It’s pretty clear that AI re…
Read more »
Judge calls out SF tech CEO's 'terrible' business move with Jay-ZJack Dorsey's Block was sued by shareholders over its purchase of the Jay-Z-backed music platform Tidal. The judge ruled in Block's favor, saying the board was “free to make a terrible business decision.”
Read more »