Top executives of drug giant AbbVie, including its CEO, Richard Gonzalez, think political outrage over drug pricing is fading and won't lead to any big changes, according to two reports.
According to Endpoints, Gonzalez, CFO Bill Chase and CSO Michael Severino sat down with analysts from investment bank Leerink Partners for a 90-minute discussion about the company — and outlined a "rosy scenario."
"AbbVie believes that the intensity of the drug pricing debates and political risks is waning, and ... the company now sees little risk of significant changes in drug price regulation in the [United States], at least for the foreseeable future," Leerink's summary concluded, Axios reported.
The company, which makes the top-selling drug Humira, had also committed in 2017 to limit price increases to below 10 percent no more than once a year — but that may change in the near future, both Axios and Endpoints reported.
The AbbVie executives told Leerink analysts that they created that policy due to "the political landscape surrounding drug pricing," and that it could "revert to more than one price increase per year and to double-digit increases in 2018 and beyond," Axios reported.
President Donald Trump in January called on pharmaceutical executives to manufacture more of their drugs in the United States and cut "astronomical" prices for medicines.
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