Cantor Fitzgerald: BIO CEO says US Needs a Biomanufacturing Renaissance

In a biotechnology industry report, Cantor Fitzgerald discussed takeaways from a chat with CEO of Bio-Rad Laboratories (NYSE: BIO).

The analyst commented, “While lowering drug prices has much populist support, BIO seeks to raise awareness of the need to protect innovation. Lowering drug pricing would be devastating for the entire biotechnology ecosystem. BIO strongly argues that MFN is NOT the solution, and that it would make China the biotechnology hub. Take Europe for example - they lost control of the pharmaceutical industry when they put caps on drug pricing.

Also, “John advocates to solve this in part through PBM reform, which can take U.S. list prices down 20-40%. Other solutions include raising European drug prices over time and implementing direct-to-consumer channels. He concedes that the industry will need to cede some ground on pricing during ongoing negotiations if it is to overcome this existential threat to its existence.”

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