Health Reform Back parts by Pfizer CEO

Now that Pfizer Inc. is about to get their rival drug company Wyeth as well as its experience and expertise in coming up with pricey as well as complex medicinal drugs, the chief executive officer of Pfizer named Jeffrey Kindler is strongly supporting making generic versions of these drugs. If such is done right, says Jeffrey Kindler, then it is the appropriate thing to do. This of course takes into regard the safety of such products as well as its biological follow ons. This is what he said in one interview with the Associated Press last Wednesday. He adds that they support such because they are currently looking into buying a larger operation for biotech.

Wyeth’s Blockbuster Products

The biologic products of Wyeth include the arthritis medicine Enbrel, which is a blockbuster product, as well as the cancer drug Mylotarg. Benefix and ReFacto, the hemophilia treatment drugs are also part of it. Currently, Pfizer has seventeen biologic drugs of its own in development. However it only serves one, which is Macugen a drug used for macular degeneration. A lot of drug makers are also lining up to be part of this area since biologic drugs are expensive. They are made from living cells and costs can run up to one thousand dollars up each month. So far, these have not been attempted by their generic competitors that offer lower prices options. However, the legislation was introduced the previous week in order to create a better pathway for this regulator. This will then approve the biosimilar drugs. President Obama himself is currently touring the same idea because it seems promising in terms of controlling the costs of health care. Kindler also mentioned that the increasing expertise which Pfizer has in such an area could very well help provide them with more opportunities to come up with biologic follow-ons that will rival others’.

Confidence in the Prospect

Furthermore, Kindel fully supports the research that is government-sponsored in order to compare drug effectiveness – which is unlike a lot that is found in his industry because it could invariably cut into the sales. Kindel is all out for the idea of coming up with a way that can evaluate a comparative effectiveness of several kinds of treatments. This would include medicines, lifestyle changes and hospitalization. Such is an area that, when done right, could show a lot of promise and would be driven entirely by the cost and the considerations of value. The interview also shows that his contrarian views would come as this drug industry would continue to be in upheaval – thereby forcing a lot of factories to slash jobs as well as other costs in an effort to wipe out a tidal wave of their generic competition. The Obama administration will be looking into ways to revamp the health care system of the nation in order to help forty eight million citizens who are without health insurance.