Brennan: US must keep eye on jobs, innovation

U.S. CapitolAs policymakers in the United States grapple with reducing the deficit, AstraZeneca CEO David Brennan is urging them to remain focused on promoting progress in the biopharmaceutical and other key industries.

“There’s still a lot of room for figuring out how to solve the budget problem in the US,” Brennan said in an interview in Russia with CNBC. “The problem I have with that is that it’s not a discussion focused on innovation and bringing jobs into the US. It’s a discussion focused on budget cuts.”

Brennan said how policymakers approach this important issue will have a significant impact on our business – and how we deliver medicines to patients in the future.

“Policy matters,” he said. “The way policy gets constructed significantly affects the amount we can invest in research and development and how long we get patent protection for our drugs.

“It’s the pressure of pricing balanced against us having to demonstrate value in our products I think we’re being much more careful and selective in what we’re bringing forward because governments and payers are being much more selective about what they’ll pay for.”

Click here to see video of the full interview.

– By Tony Jewell