With drug prices under heightened scrutiny from the public as well as policymakers due to the recent controversy surrounding the EpiPen price hike, there was some surprising and reassuring news from Allergan, a pharmaceutical firm, today.
Amid the furor, Allergan’s CEO, Brent Saunders, took to the company’s own blog to effectively pledge to limit price hikes on the company’s drugs. Demonstrating leadership during a time when many pharma CEOs have been viewed upon with scorn, Saunders outlined 4 key principles in a post titled “Our Social Contract with Patients.”
Whereas many publicly traded pharma companies have seen their shares fall amid the public’s outcry and concern over more government involvement, it is worth noting that Allergan’s stock opened higher today and finished the day up over 1%. While one day is a very small sample size to analyze, the kind of leadership Saunders has exhibited is just one of the many reasons that we view Allergan as a leader in its industry.
For the full text of “Our Social Contract with Patients” by Allergan CEO Brent Saunders, check out the following link:
NOTE – At the time of publication, Condor Capital was LONG Allergan (AGN) stock. Condor Capital has not yet received, nor will it receive in the future, any compensation by any entity for this article, from Allergan or otherwise. The opinions expressed herein are solely those of Condor Capital; investing in AGN stock carries risk, including the loss of principal. This article shall not act as solicitation to commit any action in any way.