Lilly’s new CEO David Ricks said he had confidence in the Trump Administration’s ability to understand and respond to the biopharma industry’s needs as well as address drug pricing concerns. The company’s fourth quarter earnings could insulate it from cost criticism, since sales volume drove revenue gains, not prices.

CEO Gorsky describes J&J’s approach to drug pricing and pledges to provide more detail in an annual transparency report. Investor pressure regarding the pricing debate continued during the Novartis earnings call. Value arguments expected to dominate pharma’s message.

Negotiated health plan and PBM rebates and fees have nearly doubled since 2013, PhRMA-commissioned report finds. After other rebates and discounts are added in, manufacturers retained 63% of total gross spending on branded drugs (based on list prices) –a decline, albeit less dramatic, from 2013.