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Celgene CEO explains pharmaceutical research investment strategy at House hearing

West Virginia Congresswoman Carol Miller asks former Celgene CEO Mark Alles at a House Oversight and Reform Committee hearing on prescription drug pricing how much research and development affected the price, Alles answering almost every disease researched was an orphan disease with fewer than 200,000 patients including multiple myeloma, myelodysplasia and leukemia, including for Idhifa for acute myeloid leukemia affecting approximately 4000 people in the United States each year, so the company had targeted where unmet needs believing that under the orphan drug act the company could recoup investment in the direction of investing in drugs for very small rare difficult cancers.
West Virginia Congresswoman Carol Miller asks former Celgene CEO Mark Alles at a House Oversight and Reform Committee hearing on prescription drug pricing how much research and development affected the price, Alles answering almost every disease researched was an orphan disease with fewer than 200,000 patients including multiple myeloma, myelodysplasia and leukemia, including for Idhifa for acute myeloid leukemia affecting approximately 4000 people in the United States each year, so the company had targeted where unmet needs believing that under the orphan drug act the company could recoup investment in the direction of investing in drugs for very small rare difficult cancers.
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May not be used as partisan political campaign material to promote or oppose the candidacy of any person for elective public office, and may not be used to distort the objects and purposes of the hearing, or cast discredit on or dishonor any member of the U.S. House of Representatives or U.S. Senate, or bring the House or Senate or any Member into disrepute.
Credit:
FedNet / Getty Images
Editorial #:
1278031311
Collection:
FedNet
Date created:
September 30, 2020
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License type:
Rights-ready
Release info:
Not released.ÌýMore information
Clip length:
00:01:12:15
Location:
Washington, DC, United States
Mastered to:
QuickTime 8-bit H.264 HD 1280x720 30p
Source:
FedNet
Object name:
hov093020l