HOUSE_OVERSIGHT_028421.jpg
3.29 MB
Extraction Summary
5
People
4
Organizations
1
Locations
5
Events
5
Relationships
3
Quotes
Document Information
Type:
Data snippet containing article text
File Size:
3.29 MB
Summary
This document contains text segments describing the pharmaceutical company Celgene, its former executive Mr. Hugin, and its practice of raising drug prices. Specifically, it details price hikes for the drug Revlimid, the financial impact on the company, and the human cost as exemplified by a patient, Elaine Kodish. The text also includes commentary from a financial analyst and mentions a political campaign leveraging the issue.
People (5)
| Name | Role | Context |
|---|---|---|
| Mr. Menendez | ||
| Mr. Hugin | ||
| Yatin Suneja | ||
| Ronny Gal | ||
| Elaine Kodish |
Organizations (4)
| Name | Type | Context |
|---|---|---|
| Celgene | ||
| Suntrust | ||
| Sanford C. Bernstein & Company | ||
| Medicare |
Timeline (5 events)
Celgene increasing the price of Revlimid in 2017
Celgene's Crohn's disease drug failing to outperform a control group
Poor sales performance of Otezla
Mr. Menendez's campaign attacking Mr. Hugin over drug prices
Elaine Kodish stopping and restarting Revlimid due to cost
Locations (1)
| Location | Context |
|---|---|
Relationships (5)
→
Former chief executive and executive chairman.
→
→
Analyst who follows the industry.
→
→
Securities analyst.
→
→
Patient using the drug Revlimid and former stockholder.
→
Key Quotes (3)
"Ronny Gal, a securities analyst at Sanford C. Bernstein & Company who follows the pharmaceutical industry, said drug companies have generally been “tone deaf†when it comes to raising the price of their monopoly products."Source
HOUSE_OVERSIGHT_028421.jpg
Quote #1
"“Celgene clearly has been there, but has not been any worse than the main players,†he said."Source
HOUSE_OVERSIGHT_028421.jpg
Quote #2
"“I’™™m grateful to the drug companies, don’t get me wrong, †Ms. Kodish said. “However, they can’t be compensated on the backs of people who are dying.â€"Source
HOUSE_OVERSIGHT_028421.jpg
Quote #3
Full Extracted Text
Complete text extracted from the document (5,084 characters)
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body", "role":"body","text":"Since Labor Day, Mr. Menendez’s campaign, perhaps in a
sign of vulnerability, has aggressively ramped up its advertising campaign, with a
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body", "role":"body","text":"In 2017, after Mr. Hugin had stepped down as chief
executive and become executive chairman, the company suffered two major setbacks in its
development pipeline: A drug it had hoped would be a breakthrough in treating Crohn’s
disease failed to outperform a control group and Otezla, a psoriasis drug, badly missed
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Crohn’s disease drug, it increased the price of Revlimid from $17,014 a bottle to
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body", "role":"body","text": "Ronny Gal, a securities analyst at Sanford C. Bernstein &
Company who follows the pharmaceutical industry, said drug companies have generally
been “tone deaf†when it comes to raising the price of their monopoly products.
“Celgene clearly has been there, but has not been any worse than the main players,â€
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body", "role":"body","text":"The tactics can carry a human cost. Last year, Elaine
Kodish, a 76-year-old retiree from Los Angeles, briefly stopped taking Revlimid after
her Medicare drug plan required she pay more than $450 a month for the drug that keeps
her multiple myeloma in check. Ms. Kodish said she bought stock in Celgene when she
started taking Revlimid in 2016, as a way of supporting a company she believed was
keeping her alive.","type":"text"}, {"identifier":" anf-body-
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ballooning out-of-pocket costs â€" she has since returned to taking Revlimid, which now
costs her about $785 per month â€" she said she recently sold her stake. “I’™™m
grateful to the drug companies, don’t get me wrong, †Ms. Kodish said. “However,
they can’t be compensated on the backs of people who are
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sign of vulnerability, has aggressively ramped up its advertising campaign, with a
majority of the political attacks accusing Mr. Hugin of raising drug prices to maximize
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executive and become executive chairman, the company suffered two major setbacks in its
development pipeline: A drug it had hoped would be a breakthrough in treating Crohn’s
disease failed to outperform a control group and Otezla, a psoriasis drug, badly missed
sales expectations.","type":"text"},{"additions":[{"URL":"https://ir.celgene.com/press-
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Inflammatory-Bowel-Disease-
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Crohn’s disease drug, it increased the price of Revlimid from $17,014 a bottle to
$18,546, according to a report by Yatin Suneja, an analyst who follows the industry. It
was the third price increase of Revlimid in 2017, representing a nearly 20 percent
price increase for the drug from the previous
year.","type":"text"}, {"additions":[{"URL":"https://d18rn0p25nwr6d.cloudfront.net/CIK-
0000816284/ddd3eeae-ca0e-48c5-8132-
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previous year.", "type":"text"}, {"identifier":" anf-body-
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body", "role":"body","text": "Ronny Gal, a securities analyst at Sanford C. Bernstein &
Company who follows the pharmaceutical industry, said drug companies have generally
been “tone deaf†when it comes to raising the price of their monopoly products.
“Celgene clearly has been there, but has not been any worse than the main players,â€
he said.","type":"text"},{"identifier":" anf-body-
54","inlineTextStyles":[{"range":{"length":412,"start":0},"textStyle":" anf-ts-
1"},{"range":{"length":412,"start":0},"textstyle":"anf-ts-1"}],"layout": "default-
body", "role":"body","text":"The tactics can carry a human cost. Last year, Elaine
Kodish, a 76-year-old retiree from Los Angeles, briefly stopped taking Revlimid after
her Medicare drug plan required she pay more than $450 a month for the drug that keeps
her multiple myeloma in check. Ms. Kodish said she bought stock in Celgene when she
started taking Revlimid in 2016, as a way of supporting a company she believed was
keeping her alive.","type":"text"}, {"identifier":" anf-body-
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ballooning out-of-pocket costs â€" she has since returned to taking Revlimid, which now
costs her about $785 per month â€" she said she recently sold her stake. “I’™™m
grateful to the drug companies, don’t get me wrong, †Ms. Kodish said. “However,
they can’t be compensated on the backs of people who are
dying.â€","type":"text"}, {"components":[{"identifier":" anf-heading6-
1","layout":"related-coverage-heading","role":"heading6","text":"RELATED
COVERAGE","textStyle":"related-
coverage","type":"text"},{"additions":[{"URL":"https://www.nytimes.com/2017/07/25/healt
h/celgene-to-pay-280-million-to-settle-fraud-suit-over-cancer-
HOUSE_OVERSIGHT_028421
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