Giovanni Caforio on drug pricing

About Giovanni Caforio

Giovanni Caforio, Executive Chairman of the Board at Bristol Myers Squibb, has discussed the company's pipeline and business strategy in recent appearances. In November 2021, Caforio stated that the company was launching nine new medicines, describing the pace as "unprecedented" for the company)Skip. He projected the new drugs would generate $10 billion to $13 billion in sales by 2025, with the potential to exceed $25 billion by 2029. Caforio noted that the company's pipeline had doubled and that it was pursuing both internal R&D and external business development, including small bolt-on acquisitions, to replace products losing exclusivity. He also expressed concern about a "secondary health crisis" from delayed cancer treatments during the COVID-19 pandemic, stating that managing the flow of patients back into healthcare systems was "absolutely critical." In January 2019, Caforio discussed the acquisition of Celgene, describing it as creating a company focused on science and innovation in oncology, autoimmune diseases, and cardiovascular disease. He stated that the deal would allow the combined company to launch six medicines in the following 24 months and accelerate 50 more medicines to patients. Caforio emphasized a responsible approach to drug pricing, saying the company was committed to making medicines affordable and accessible, while also expressing concern that government price-setting could harm innovation. He noted that the industry had been "very responsible" with pricing, with inflation-adjusted increases of less than 1% over the prior two years.

Profile compiled from Giovanni Caforio's verified public interviews and appearances. See all quotes & transcripts →