- Air Force cadets ‘revolt’ after officials remove biblical verse from whiteboard
- Rep. Lee: Paul Ryan out of touch with urban Americans
- House votes down resolution to force Issa to apologize
- Kremlin blocks opposition websites; Kasparov fears Putin plans ‘something drastic’
- Saving trees? EPA wastes $1.5 million storing unneeded pamphlets in warehouse
- Scott Brown Senate bid in New Hampshire may launch soon
- Jeffrey Corzine, son of ex-N.J. governor, dead at 31
- Australian surfing magazine sorry for calling indigenous surfer ‘apeish’
- Records: Man in Fla. theater shooting also was texting
- The Putin problem: U.S. needs Russian rockets for spy satellites
CEO: Risks key for Merck to succeed, help patients
AP: What are some of the changes the U.S. should be making to control medical spending?
FRAZIER: We need to fix the misalignment of incentives, to stop paying for treatment volume rather than better care. I’d like to see a lot more spending on prenatal care and less at the end of life. Eighty percent of health care costs are driven by behaviors that can be controlled or modified _ excessive eating, smoking and drinking. We need a massive behavioral change.
AP: You joined several CEOs in a meeting with Obama in Washington late last year to discuss deficit and debt reduction. What did you tell the president?
FRAZIER: The president invited CEOs from different industries to hear what we thought, and whether or not we were prepared to support his approach, which calls for higher taxes on the wealthiest 2 percent. I support tax revenue increases, including the top 2 percent, but only if accompanied by responsible spending limits. The key is balance.
I talked to him about the importance of innovation, and I think the president understands that. I do worry that as we try to fix this long-term debt and deficit situation that we don’t destroy the market incentives for biomedical research. What I fear is the government using its considerable clout to say, `Here’s the price we’re setting for your medicines.’
Linda A. Johnson can be followed at http://twitter.com/LindaJ_onPharma.
TWT Video Picks
By Emily Miller
Obama is losing the debate on gun ownership, concealed-carry permits
- USS Kidd sent to Indian Ocean after 'indication' of Malaysian jet crash
- F-35 secrets now showing up in Chinas stealth fighter
- MILLER: Law enforcement realizes good people with guns deter crime
- U.S. pilot scares off Iranians with 'Top Gun'-worthy stunt: 'You really ought to go home'
- NRA shirt gets N.Y. high school student suspended
- Kim Jong-un calls for execution of 33 Christians
- Oil rig worker says he saw missing plane go down: report
- Senators reach deal on unemployment benefits
- Ben Carson: America's now 'very much like Nazi Germany'
- Kerry warns of 'very serious' response to Crimea-Russia alliance
Chaos as Manhattan building explodes
Pope Francis meets his 'mini-me'
Celebrity deaths in 2014
Winter storm hits states — again