Drug Industry Group Starts Ad Campaign to Defend Pricing
- Biotech lobby spends millions to say new treatments save lives
- Group distances itself from price-hiking Valeant, Turing
This article is for subscribers only.
A top pharmaceutical lobbying group is launching an ad campaign to defend drugmakers that have been under fire for their pricing practices.
“We’re under pressure and scrutiny like never before,” said Jim Greenwood, chief executive officer of the Biotechnology Innovation Organization. The campaign, called “Innovation Saves,” says new drugs can save both lives and costs to the health-care system. BIO is spending “low- to mid-seven digits” on the ads, according Greenwood, or about $1 million to $5 million.