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At least for AstraZeneca, President Donald Trump’s pressure on pharmaceutical corporations to reduce the cost of drugs in the United States may be beginning to have an effect.
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After the company’s second-quarter revenue and profitability exceeded forecasts, AstraZeneca CEO Pascal Soriot told reporters on Tuesday that the business has suggested price reductions for some medications in the United States.
Soriot stated that the pricing dynamics in the U.S. are “very complicated” and opaque, adding, “We have made proposals of what we as a company believe could be done, which would actually entail rebalancing pricing with a reduction in the U.S.”
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He did not say which therapies were part of the Trump administration’s evaluation of the company’s offers. One of the first pharmaceutical companies to disclose that it has proposed pricing reductions to the Trump administration is AstraZeneca.
“I certainly think there needs to be a global price adjustment. “The world’s R&D can no longer be funded by the United States,” Pascal stated.
“We definitely support the idea of rebalancing with some reduction of pricing levels in the U.S., and some increase, we’re not talking about massive increases, in Europe,” he said.
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The corporation had previously set a target of $80 billion in sales by the end of the decade, with the United States accounting for 50% of that amount, or around $40 billion.
Why now?
Soriot’s remarks follow two months after Trump signed a comprehensive executive order intended to restart a plan to reduce medicine costs in the United States by tying prices to far lower ones in other industrialized nations. Trump has referred to the initiative as “equalizing” prices, or the “most favored nation” policy.
Not to be overlooked are the president’s proposed tariffs on pharmaceutical imports into the United States, which may take effect at any moment and have far-reaching effects on both patients and pharmaceutical companies. Even if AstraZeneca and other businesses have recently announced billions of dollars in new U.S. investments, the taxes are still intended to increase domestic medicine manufacture.
Last week, AstraZeneca said that it intends to invest $50 billion by 2030 to strengthen its production and research capabilities in the United States. This investment would involve both new locations and expansions of existing ones.
Soriot also stated on Tuesday that he anticipates local production of all AstraZeneca medications for American patients in the coming months.
He went on to say that the corporation is thinking about selling some medications directly to patients, a strategy used by businesses including Bristol Myers Squibb, Novo Nordisk, Pfizer, and Eli Lilly as patients in the US struggle to pay for medications.
“We want to behave in the U.S. as a U.S. company,” Soriot stated.
However, in the midst of rumors that the firm is thinking about moving its listing stateside, he noted that AstraZenecais, established in the United Kingdom, “committed” to its home nation.
Pascal refused to address the rumors during the company’s results call for the second quarter.
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In an effort to help therapists spend less time on paperwork, Doximity this week unveiled Doximity Scribe, a free artificial intelligence-powered documentation tool.
The business is the most recent to enter the fiercely competitive AI scribing market, which has grown rapidly as executives in the healthcare industry look for ways to lessen the burdensome administrative duties and employee fatigue.
Similar to other available solutions, Doximity Scribe records medical appointments with consent from patients and utilizes AI to create clinical notes in real time. However, Doximity is adopting a different strategy from its rivals, including Microsoft, Abridge, and others, by providing the tool without charge.
According to a press release from Doximity, “Comparable scribe services can cost hundreds of dollars per user per month,” “We believe powerful tools like this should be accessible to all clinicians, not just those with the budgets.”
Medical practitioners can use Doximity, a digital platform, to handle paperwork, find referrals, stay up to date on medical news, and schedule telemedicine consultations with patients. The company’s marketing services and employment solutions for customers like pharmaceutical corporations are its main sources of income.
The firm also provides clinicians with a free video and telemedicine platform called Doximity Dialer and an AI tool called Doximity GPT in addition to Doximity Scribe. To put it another way, it has already used this playbook.
The free offering, however, might not completely upend the market just yet, even though it will probably attract a lot of physicians.
While Doximity Scribe is beginning with a beta integration with its own product, Doximity Dialer, a number of other companies in the market, including as Microsoft and Abridge, can offer extensive integrations with providers of electronic health records. Similar to this, Doximity users have the option of using structured templates or freeform notes; however, some providers give coding and billing services in addition to support tailored to a provider’s area of expertise.
Large, intricate health systems will therefore probably continue to be willing to pay for AI scribes—at least for the time being.
Clinicians can register for early access to Doximity’s scribe, which it plans to launch in the upcoming months.
Go here to read the entire announcement.
Please feel free to contact Ashley [email protected] with any advice, data, or article ideas.
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