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‘We have more options available to us down the line to generate cash to help bring down our leverage, including our remaining interests in Baker Hughes and Wabtec Corporation and continued flexibility for our go-forward Healthcare business,’ Culp wrote in the letter here. General Electric has reduced its stake in oil-services firm Baker Hughes and will sell nearly half of its healthcare unit, the company said. “We intend to maintain a disciplined financial policy, targeting a sustainable credit rating in the single-A range .. ultimately a dividend level in line with our peers,” Culp said men cufflinks.
WASHINGTON/NEW YORK (Reuters) – U.S. senators called drug pricing practices “morally repugnant” and told drug company executives they do not want to hear them blame others for the high prices, taking an aggressive stance at a Senate hearing on the rising costs of prescription medicines men cufflinks. Senators took aim in particular at Abbvie Inc Chief Executive Richard Gonzalez and his company’s rheumatoid arthritis drug Humira – the world’s top-selling prescription medicine. Executives from AstraZeneca PLC, Sanofi SA, Pfizer Inc, Merck & Co, Johnson & Johnson and Bristol-Myers Squibb Co also answered questions from members of the U.S. Senate Finance Committee..
The executives pointed to their companies’ records of developing lifesaving medications, saying profits generated in the lucrative U.S men cufflinks. market help them fund expensive research and development of future treatments. “American research-based companies are leading the next wave of biomedical innovation to help patients whose diseases cannot be adequately treated with today’s medicines. We should work to ensure policies that support and reward these investments,” said Bristol-Myers CEO Giovanni Caforio..
The executives also voiced support for plans to reform the industry-wide system of rebates that pharmacy benefit managers (PBMs) and health insurers receive from drugmakers in exchange for preferential coverage of their medicines men cufflinks. In his opening statement, Senator Ron Wyden, the Finance Committee’s top Democrat, tore into each company one-by-one for “profiteering and two-faced scheming.”. “Drugmakers behave as if patients and taxpayers are unlocked ATMs full of cash to be extracted, and their shareholders are the customers they value above all else,” Wyden said..
Senators from both parties targeted AbbVie’s Gonzalez, with Wyden noting that the CEO’s bonus was partially tied to Humira sales, which reached nearly $20 billion globally last year men cufflinks. Republican Senator John Cornyn criticized the company’s web of more than 130 patents that protects Humira’s exclusivity. The drug has a list price of more than $60,000 a year, nearly double what it was in 2014, according to Rx Savings Solutions, which helps health plans and employers seek lower cost prescription medicines..