Insurance

Johnson & Johnson CEO: Drugmakers Want Higher Government, Insurance Payments

J&J executive Alex Gorsky says that while pharma firms are pleased at reforms, more change is needed.

Pharmaceutical companies are pleased that health-care reform means more patients have insurance and will be encouraged to take their medicine to avoid costly hospitalizations.

But, as Johnson & Johnson chief executive officer Alex Gorsky said Tuesday, drugmakers want private insurers or government programs such as Medicare and Medicaid to pay them for those drugs at a prices closer to their choosing.

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