One day after meeting with President Donald Trump, J&J CEO Alex Gorsky talked about his priorities responsible drug pricing, lower taxes to help U.S. companies better compete with overseas rivals and being allowed to bring back cash held abroad at a lower tax rate.
Alex Gorsky commenting on the Republicans plan to replace the Obamacare, he, among other condiderations, is hoping any new plan would retain health coverage for people with pre-existing conditions.
The company will release what it is calling a pharmaceutical transparency report, that will include expanded disclosures on U.S. pricing, research and development expenses, and compassionate care programs.
Furthermore J&J is thinking about its “strategic options” for its diabetes business and is looking into a potential sale, partnerships or other options for LifeScan Inc, Animas Corp and Calibra Medical Inc, units that sell blood glucose monitoring and insulin delivery devices.
The company will continue to sell its diabetes treatment Invokana and focus on treating the disease in areas like bariatric surgery.
Diabetes devices had sales of $462 million for the quarter and were down 7.2 percent in 2016.
The review does not involve J&J’s big-selling diabetes drugs.
Source: Reuters, The Daily Mail, Bloomberg