高药价是否为制药创新提供资金?
William Lazonick1, Öner Tulum1
1The Academic-Industry Research Network, Cambridge, Massachusetts, United States of America.
Healthcare management forum
|August 12, 2024
概括
大型制药公司优先考虑通过股息和股票回购来获得股东利,而不是投资创新. 这种融资策略有助于提高药品价格,并减少了加拿大的研发.
科学领域:
- 卫生经济学 卫生经济学
- 制药政策 制药政策
- 企业金融公司财务
背景情况:
- 制药公司声称需要高药价来资助创新.
- 这一说法受到美国主要制药公司的重大利分配实践的质疑.
研究的目的:
- 分析美国制药公司的财务行为.
- 调查这些做法对加拿大的创新投资和药品定价的影响.
主要方法:
- 分析了标普500指数 (2013-2022) 中14家美国制药公司的财务数据.
- 通过股息和股票回购来审查利分配.
- 评估高管基于股票的薪酬在融资化中的作用.
主要成果:
- 从2013-2022年,制药公司支付了54%的净收入作为股息和51%作为回购.
- 高管薪酬结构鼓励股票价格上而不是创新投资.
- 金融化做法导致药品价格上,加拿大医药研发投资不足.
结论:
- 美国制药公司的金融化策略,由高管薪酬驱动,转移资金从创新.
- 这些做法导致药物成本上升,加拿大研发能力下降.
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