Pharma giant Novo Nordisk announced Thursday that it is cutting 1,000 jobs after slashing forecasts for 2016, citing lower prices for diabetes drugs. Novo and competitors such as Indianapolis-based Eli Lilly will likely have to keep tightening their belts as prices and profit margins fall, experts say.
A broad-based alliance of health and business groups warns that medical costs will keep soaring unless state leaders take steps to promote healthy living, including new restrictions and higher taxes on cigarettes.
The head of Pfizer Inc., America’s biggest drugmaker, said Democratic presidential nominee Hillary Clinton’s proposals to contain the price of pharmaceuticals would be “very negative” for the industry and are a step toward single-payer health care.
The study said more than 11,000 Hoosiers die prematurely each year from smoking and another 1,400 die as a result of second-hand smoke. Twenty-three percent of Indiana adults smoke, higher than the U.S. median of 18 percent.
Across Indiana, 64 hospitals are facing total federal penalties this year estimated at $9.3 million, according to the Indiana Hospital Association. Nationally, hospitals will pay an estimated $420 million.