In Europe, the holidays have been long-forgotten and over: the typical challenges to get back to the work are surged by the projections of official Europeans of sharply-diminishing growth because of prolonged weakness in the geopolitical concerns, industrial sector, a bleak global backdrop and hampering exports, as well as, investment. Other than this, there are also high risks from elevating global protectionism, a growth rate which is slower than expected in China, and political instability in Italy.
Some additional problems are faced by pharmaceutical executives as they plan their impending strategies: the constant pressures for tighter controls on drug-pricing in Europe were given a push even before the holidays came to an end. The Dutch Health Minister made a public announcement regarding the early outbreak to the worsening situation by revealing his intention of confronting demands by the drug firms for ‘excessive’ prices by identifying and shaming the offenders. He demanded the firms to provide an adequate justification for the prices of its drug; in simpler words make sure nothing is suspicious rather an open book.
The retaliatory fire did not take long to be opened up from the side of industry figures. VIG, which is the national drug industry association, rejected the claims of overcharging immediately. The Chief of Janssen Campus Nederland, Bart van Zijll Langhout, told in an interview that the transparency of drug pricing is not as simple as it seems.
And the representation of biotechnology industry, BIO Holland, countered with the demand for more clearness in the criticism; how much detail is on the outlook for? To what degree of transparency do you request for? What exactly will be your satisfaction level? When will you be finding a pharmaceutical story really credible? To sum up: which criteria or the conditions must be met by the pricing? It questioned.