Debunked Episode 21: Drug Price Controversy, AI in Healthcare Companies Faces Consolidation, But How Much?
The exploration of artificial intelligence companies in healthcare, the drug price debate and the latest twist in the Trump administration's accusations that Tylenol is linked to autism are hot topics in the latest episode of the Debunking Podcast, hosted by MedCity News Editor-in-Chief Arundhati Parmar and Health Innovation Pitch Managing Partner Samir Batra.
Part of the conversation focused on TrumpRx, a platform announced by the Trump administration this summer to lower drug prices for Americans. So far, two drugmakers have pledged support for TrumpRx. Pfizer was the first, with an announcement in late September.
“Pfizer has voluntarily agreed to take steps to ensure that Americans receive drug prices that are comparable to those in other developed countries and to price newly launched drugs in line with those in other major developed markets,” the announcement said. “Pfizer will also participate in the direct procurement platform TrumpRx.gov, which will allow U.S. patients to purchase drugs from Pfizer at deep discounts. The vast majority of the company's primary care treatments and select specialty brands will be offered at discounts of up to 85%, with an average savings of 50%,” according to its press release. It’s important to note: “The specific terms of the agreement remain confidential.”
AstraZeneca has also pledged to lower the prices of many medicines and support domestic production.
Much of the discussion focused on the prospects for companies vying for position in the race to adopt artificial intelligence in healthcare. Ambient AI and Abridge are major players that have raised millions of dollars to advance and develop their artificial intelligence software applications. Nabla is attracting attention for simplifying clinical documentation in electronic health records (EHRs). Nvidia is working with Eli Lilly and Company to use artificial intelligence to identify drug development targets and other applications. Arundhati and Samir also expressed their views on artificial intelligence. Samir said he expects a lot of consolidation in the industry over the next 12 to 18 months. He said it is expected that 70% of small artificial intelligence companies (including start-ups) will either be absorbed by large enterprises through M&A transactions or gradually disappear.
The conversation also touched on the drama surrounding the U.S. Department of Health and Human Services (HHS) and HHS Secretary Robert F Kennedy Jr alleging that acetaminophen, the active ingredient in Tylenol, was linked to autism, then clarifying that he did not have enough evidence to prove a causal link. Texas Attorney General Ken Paxton recently filed a lawsuit against Johnson & Johnson, the owner of the Tylenol brand.
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