Less expensive pharmaceuticals
Novartis' number one believes that no one should be excluded from access to medicines for economic reasons
“The pharmaceutical industry should be closer to society also to improve its image”. Thus the general manager of Novartis Joseph Jimenez from the columns of the NZZ am Sonntag. “No one should be excluded from access to medicines only for financial reasons”.
The number one of the pharmaceutical giant from the Rhineland, although he resigned, also observed that "the threats in the electoral campaign of the then candidate for the White House, Donald Trump, at least had the effect of making pharmaceutical companies more careful when setting prices of their products".
Novartis has thus, for example, established a price lower than the expectations of analysts and some shareholders for a drug against leukemia. However, the drug costs around 443,000 francs but recently "its price would have been between 600 and 700,000 dollars". Prices in the USA, Jimenez concluded, “will get closer and closer to the decidedly lower European prices”.
Note: Joseph Jimenez Jr., 57 years old, Chief Executive Office Novartis, received in 2016 a total compensation of SFr. 11,989,448 (€ 10,310,850.80 at today's exchange rate) – Source Bloomberg