Magazine article Drug Topics

Drug Industry Facing Multiple Reform Initiatives

Magazine article Drug Topics

Drug Industry Facing Multiple Reform Initiatives

Article excerpt

Although most pharmaceutical industry executives cheered when Congress let health-care reform die last year, Kurt Landgraf was not among them. In fact, Landgraf, president and CEO of DuPont Merck Pharmaceutical Co., believes reform's demise was "a bad thing" for the industry.

"The basic problems with health care in this country [remain]," he told a conference held in Washington, D.C., last month. The conference was sponsored by RESCON, a health-care consulting firm. Among those problems are escalating costs and a lack of Rx drug insurance for many Americans, especially among the elderly. Now, instead of federal legislation, the industry faces 50 state legislatures that want to do something about drug prices and drug coverage for the poor and elderly, Landgraf said.

He foresees continued turmoil in the pharmaceutical industry, with five to 10 "megafirms" emerging from mergers and acquisitions by the turn of the century. Half a dozen will be foreign-dominated, which he said should be a U.S. public policy concern. There also will be a broad second tier of emerging technology companies creating a bimodal pharmaceutical market. …

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