Saturday, February 16, 2013

Perrigo


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Perrigo's CEO makes some interesting points:
Papa described the ideal formula will be 90 percent generic refill, and 10 percent branded. “The reality is when a brand comes out with a new innovation, you should get rewarded for the renovation,” Papa said. “But when it’s been on the market for 15 or 20 years, it’s time to now to get a store brand into into the market place so the brand can focus on the next new innovation.”
Papa was introduced by Meijer co-CEO Mark Murray who described the Midwest retailer’s relationship with Perrigo as “spectacular.” Perrigo manufactures much of Meijer’s store brand, over-the-counter pharmacy products.

When asked why health care costs are so much higher in the U.S. than in other industrial countries, Papa attributed it to legal expenses and the investment required to research and develop new drugs.
At some point we may stop paying for the world’s innovation from a pharmaceutical point of view, but for right now that is what is happening,” Papa said.

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