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MARIA: WELCOME BACK LIVE FROM
SAN FRANCISCO 36TH ANNUAL
JPMORGAN HEALTHCARE CONFERENCE
ALL ACTION THE INDUSTRY IS
WATCHING CAPITOL HILL
PRESIDENT TRUMP'S PICK TO LEAD
DEPARTMENT OF HEALTH AND HUMAN
SERVICES TAKING A HOT SEAT
TODAY FOR HIS CONFIRMATION
HEARING, ONE ISSUE FOR
LAWMAKERS RISING PRICES FOR
GREAT TO SEE YOU.
>> GOOD MORNING.
>> THANK YOU SO MUCH FOR
JOINING US THIS MORNING SO
LAST TIME WE SPOKE YOU WERE IN
THE MIDDLE OF ALL THIS
CONTROVERSY OVER THE EPIPEN,
THE THAT WAS A BILLION-DOLLAR
DRUG YOU WERE BASICALLY
PUBLICLY SHAMED IN TERMS OF OF
TAKING THE PRICE DOWN IS THERE
ANOTHER BILLION-DOLLAR DRUG ON
>> A LOT MANY DRUGS IN THE
ONE OF THE ARDUOUSNESS LARGES
ONE OF THE ARDUOUSNESS --RGES
ONE OF THE ARDUOUSNESS -- GES
LARGEST PROPOSALS, LOOKING
FORWARD TO GENERIC NOT SO MUCH
EPIPEN THE DOLLAR AMOUNT IT IS
IS IT SYSTEM I THINK WE ARE I
FOUND MYSELF STARTING A VERY
IMPORTANT CONVERSATION HE
ABOUT HOW THE SYSTEM WORKS,
ALL THE PLAYERS THAT
PARTICIPATE IN THE SYSTEM, HOW
IT IS BROKEN FOR PATIENT AT
KROURNT
KROURN
ROURN
COUNTER.
>> IS SYSTEM BROKEN ARE YOU
SEEING ALL THESE COMPANIES OUT
THERE THAT YOU HAVE TO GO THE
TO GIVE A THEY WANT TO TAKE
WHATEVER PROFIT YOU ARE MAKING
ON THE DRUG.
>> THE SYSTEM IS STILL WORKING
THE WAY IT YOU DON'T SOMETHING
NOT BUILT OVER 30 YEARS TAKEN
DOWN OVERNIGHT IMPORTANTLY
WHAT EVERYBODY IS TRYING TO
FIGURE OUT I I THINK DEAN
DISCUSSION EVOLVED LAST 12 TO
1
18 MONTHS AT MOMENT LOOK
OF INSURANCE AS THEY DO ON
MEDICAL SIDE OF THE HOUSE IF
THEY GET A TREATMENT OR
EXPLANATION OF BENEFITS OF
ANYTHING RECEIVING, PER SE IN
A HOSPITAL.
>> PEOPLE DON'T HAVE MONEY WE
HAD AN INTERVIEW YESTERDAY,
FROM JPMORGAN INSTOOUT SAID AS
SOON AS PEOPLE GET TAX REFUND
CHECKS THAT IS WHEN THEY GO TO
THE DOCTOR PUTTING OFF GOING
HAVE MONEY.
>> RIGHT, LOOK, WE ARE IT IS A
TERRIBLE INFLECTION POINT NOT
SUSTAINABLE, WE'VE GOT TO FIX
THAT CONSUMER RECEIVES BENEFIT
OF THE PREMIUMS PAYING IN
INSURANCE, AND THEY ARE
GETTING THE BENEFIT OF EVERY
DISCOUNT EVERY REBATE, BEING
NEGOTIATING NOT TRANSFERRED TO
THE PATIENT PATIENT GETTING NO
BENEFIT OF INSURANCE, AND NO
BENEFIT OF ANY KIND OF REBATE
OR GOERTH GETING MAKING PLACE
AGGRESSIVE MEAN.
>> THE COMMISSIONER DR.
GOTTLIEB IS HE MOVING QUICKER
IN TERMS OF APPROVAL GETTING
MORE HE DRUGS OUT THERE.
>> HE REALLY HAD A FOCUS ON
COMPLEX GENERICS HAS VERY MUCH
LIVED UP TO WHAT HIS GOALS
WERE WHEN HE CAME INTO FDA HE
TALKS ABOUT WANTING TO FOCUS
ON THOSE FIRST MARKET GENERICS
VERY IMPORTANT FOR THE
CONSUMER AND PATIENT AND
SYSTEM, AND SO WE'VE SEEN
DEFINITELY NOT ONLY A RISE IN
GENERIC APPROVALS BUT WE HAVE
SEEN A NICE UPTICK IN THE
FOCUS ON COMPLEX, I SAID MYLAN
RECEIVED, APPROVAL ONE OF THE
FIRST FOR 40 MILLIGRAM
FIRST GENERIC APPROVAL IN THAT
VERY IMPORTANT MARKET.
>> WE HAVE BEEN TALKING ABOUT
CORPORATIONS, YOU ACQUIRED
META ONE YEAR AGO YOU DID A
BIG DEAL ARE YOU INTERESTED IN
SOME SAVINGS TO DO ANOTHER BIG
DEAL THIS YEAR.
>> NO LOOK WE ARE VERY MUCH
FOCUSED ON WE HAVE BEEN VERY
STEADFAST ON PAYING DOWN OUR
DEBT OUR BALANCE SHEET IS
FINISHED-BILLION-DOLLAR SHARE
REPURCHASE PROGRAM VERY
COMPLEMENT OUR PORTFOLIO NOT
LOOKING AT LARGE TRANSACTIONS
RIGHT NOW.
>> ARE YOU INTERESTS IN GOING
AFTER --
>> NO, YOU ARE DONE WITH THAT.
>> LOOK IT WAS A MOMENT IN
TIME WE THOUGHT IT WOULD HAVE
BEEN A VERY TRANS MAIGS
BEEN A VERY TRANS MAIG
TRANSFORMATIONAL, WE THINK NOW
THAT WITH THE TRANSACTION WE
NOT ONLY ARE ABLE TO GROW OTC
OUTSIDE THE UNITED STATES VERY
HE SUBSTANTIALLY BUT A
FOOTPRINT TO BUILD ONE IN
UNITED STATES.
>> YOU ARE SEEING MORE FOR
EXAMPLE, CHEAPER GENERIC
EPIPENS POP UP WHAT IS ANSWER
TO GETTING PRICES LOWER THIS
IS YOUR BUSINESS IN GENERIC
HOW DO YOU GET PRICES LOWER
REGARDLESS OF --
>> THAT IS WHY WE DID WHAT WE
DID WITH EPIPEN NO BRAND
COMPANY HAS DONE PUT A GENERIC
IN THE
IN TH
MARKET FOR HALF THE PRICE
WASN'T TAKING CARE OF K
PROBLEM MUCH LARGER AFFECTING
EVERY PRODUCT PICK UP PAPER
PATIENTS AT DOLLAR ZERO GAME
REACHING 2000 OR 5,000
DEDUCTIBLE IT IS ABOUT MAKING
SURE THE SYSTEM IS ALLOWING
PATIENTS AND CONSUMERS TO VERY
MUCH BE PART OF THE PROCESS WE
ARE MAKING THEM HAVE HUGE OUT
OF XKT EXPENSIVE WITHOUT
BENEFIT OF B TO B BEHIND
SCENES.
>> DOES AMAZON CHANGE I THINK
AMAZON TRYING TO FIGURE OUT
HOW TO HE THINK WHICH A IT I
THINK IT IS VERY DIFFICULT WE
NEED DISRUPTION IN THE SYSTEM
AND DISRUPTION COMES WHEN
DISRUPT THEING HOW PATIENTS
LIFE IS INSURED.
>> GREAT TO HE IS A YOU LOOKS
LIKE YOU ARE HAVING A GREAT
YEAR I CAN SEE OPTIMISM A LOT