Biotech Values

[zipjet]

In today's world there's no reason for Valeant to behave the way they did.

The conflict is driven by shifting the cost of drugs to the patient by payors.

Patients want the drug. Doctors prescribe it. Pharma wants the sale.

Payors want to limit the cost of drugs. Patients can't afford the copay.

Pharma Solution: Pharma games the system, by in some fashion eating the copay.

PBM Solution: Block payments when gamed.

Fun and games all around.

$VRX gets caught. But likely these games are more widespread.