Michael Goettler, the global president of rare disease business at Pfizer, talked about corporate social responsibility for insurance on rare and intractable disease treatments during a media event in Myeongdong, central Seoul, last Thursday.
“It’s essential for us that we can set the right price point for its availability, to work with the government together so we can invest in research and the right price point,” Goettler said. “It is a costly and very complex drug. But instead of looking at one drug, we must look at the whole system.”
Michael Goettler, global president of rare disease business at Pfizer, talks about corporate social responsibility during the company’s media event in downtown Seoul Thursday.
He noted that in most countries in the world, it is not his company but host governments that set the price.
“It is for society and the government to decide how much it wants to establish the price and where is the right price point,” Goettler said. “On an individual drug, you might think the price it too low or too high. But what’s important is that the whole system is working overall, so there are enough people to think there’s incentive even though there’s a high risk to try to cure diseases.”
The Pfizer executive said he knows 20 companies before him that failed and lost everything they invested, but he would try again if there is a slight percentage to be successful.
“I would also like to add that as Pfizer’s responsibility; we are doing our best to make our drugs available around the world. We do understand that there is a big shoulder of responsibility on us,” Geottler said.
Many Korean patients have expressed dissatisfaction with the company’s proposal for a program, which offered a 30-percent refund of the prescription costs, as the company distributes Ibrance to British patients for free but not in this country.
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