"Need To Lower Drug Prices Without Impacting Innovation, Says Mount Sinai CEO"
Kenneth Davis, MD, president and CEO of the Mount Sinai Health System, discussed why he says drug prices need to be lowered, and how it can be done in the United States. “I know today that drug discovery is largely a function of academic medicine and the NIH generating the kind of grants and intellectual property that companies then will pick up either by buying a small start-up biotech, or directly buying a license from an academic medical center. Big pharma has become a development house, so we have got to keep drug discovery at the same time we give the companies the resources for drug development, which is very expensive,” said Dr. Davis.
— Kenneth L. Davis, MD, President, CEO, Mount Sinai Health System