Janssen Emphasizes Average Net Price Decline As Transparency Momentum Builds In States
Rebates, discounts drove Janssen's average net price down 4.6% in 2017 even as average list price increased 8.1%; transparency report emphasizes value-based contracts for prostate cancer, diabetes drugs.
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CEO Alex Gorsky highlighted growing public concern over US drug costs during J&J's Q4 earnings call, pressing for more transparency and value-based health care. The company's net drug prices declined more than 6% in 2018, he added.
A 60% price reduction on hepatitis C drug Zepatier sounds impressive, but the drug has been declining and the HCV space overall is shrinking. Another set of 10% reductions come on small-sellers that are now generic.
J&J told investors to anticipate negative net drug pricing of 4%-6% across its portfolio in 2018, following a 4.6% negative impact in 2017. CEO Alex Gorsky also cautioned against changing drug pricing policy too quickly.