The drug company Celgene reinvests nearly 40% of its total revenue in developing new drugs, according to its 2019 Value and Innovation Report, giving it the highest R&D intensity of any biopharmaceutical company in the world.
The report comes amid a debate in Washington and elsewhere on the cost of prescription drugs, and highlights Celgene’s approach. According to its principles on drug pricing, it “must strike a balance between ensuring access for every patient who may benefit and preserving incentives for medical innovation and investment in research and development. If we meet these goals, we can continue to deliver life-changing treatments today, invent tomorrow’s breakthroughs, and fuel a sustainable, virtuous cycle of innovation.”
“No other sector of the economy touches people and society as broadly as healthcare, which is why any assessment of healthcare costs, and the associated value, must be holistic and multi-dimensional,” says Chairman and CEO Mark J. Alles.