NYC Chapter Panel Discussion:
A New President, A Brand New Environment:
What Does it Mean for our Healthcare Industry?
In early March, the LES NYC Chapter held a lively discussion about what could be coming in the healthcare industry under the new administration. The discussion focused on three topics: IP, biotech funding, and pricing. While it was acknowledged that no one can predict anything under the current administration, positive and negative scenarios were explored.
Moderator: Christine Fischette
Panelists: T. Alexander Puutio, Carlo Rizzuto, Ed Saltzman
For IP, discussion centered on what was not communicated in the debates where both parties took a stand against the Trans Pacific Partnership, TPP. Missed opportunities included transplanting best practices, harmonizing regulations and processes, endorsement of a common patent language, patent prosecution highways, quotas and tariffs, local costs and requirements for developing/launching/commercializing therapeutics, market access, market exclusivity, positioning of US as a leader in these complex negotiations, where Japan and Australia are now taking the lead.
Panelist Ed Saltzman standing with Kim Chotkowski, LES CEO
For biotech funding, discussion highlighted around the potential decrease in regulation, stimulation of business and more money available for investing in a strong market.
For pricing of pharmaceuticals, especially innovative, value-creating scenarios, such as real “cures” re: one administration of gene modifying therapeutics, or drugs with significant positive patient outcomes, including cancer medications in combination, the jury is still out on how best to pay for that value without “breaking the budgets” of payers. Positive, negative and no effect scenarios were discussed in terms of allowing Medicare to negotiate drug prices ranging from it will lower costs, it won’t matter because PBM’s negotiate prices anyway with pharma players, it will destroy the pricing of pharmaceuticals, as we know it.
Attendees: Linda Fort, Sapna Palla, Moderator: Christine Fischette
All in all a lively discussion! We are grateful to our panelists and moderator for a successful event and to our sponsor, Fox Rothschild, LLP, for their generosity.