The number-one challenge facing the biopharmaceutical industry today is public distrust, dwarfing concerns about regulatory obstacles or the sheer difficulty of the science required to develop drugs, a survey of STAT Plus subscribers shows.
Much of the public’s poor opinion of biopharma stems from runaway drug price hikes, and survey respondents had a lot to say about strategies being pursued in Washington to corral these costs. They give high marks to the tax law and brush off any concern about import tariffs.
More than three-quarters think allowing Medicare to negotiate prices is a fine idea, with some saying it’s long overdue. “It is absurd that one of the largest purchasers of drugs in the world is prohibited (by law) from negotiating drug prices,” one subscriber wrote. “Trading price for volume is an underpinning of how capital markets work.”
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