As officials on both sides of the Atlantic prepare for President Donald Trump’s visit to the U.K. next week—and amid plans for mass protests while he’s there—some Big Pharma CEOs have been invited to a black-tie dinner with Trump and Prime Minister Theresa May, according to the Financial Times.
Among the slate of multinational executives invited are Johnson & Johnson CEO Alex Gorsky and GlaxoSmithKline CEO Emma Walmsley, the newspaper reports. The location of the dinner has not been released, but some sources told the FT they’re expecting it to take place in Blenheim Palace, a lavish estate near Oxford and the birthplace of Winston Churchill.
But some business leaders say they’re skeptical the gathering will go forward, according to the report.
Mass protests are expected during Trump’s “working visit,” according to numerous publications. The president’s official appearance will come right on the heels of a NATO summit and right before a meeting between Trump and Russian president Vladimir Putin.
Representatives for GSK and J&J didn’t immediately respond to requests for more information.
In the U.S., Trump’s administration recently unveiled a plan to lower drug costs by stepping up pricing negotiations and competition—from new generics and brands alike—as well as providing incentives for lower list prices and helping to lower patients’ out-of-pocket costs.
Meanwhile, Brexit continues to grow closer in the U.K., and drugmakers are reportedly deploying plans to mitigate potential supply issues ahead of the March 2019 separation deadline. Merck & Co., for instance, reportedly plans to stockpile a six-month supply of drugs to hedge against shipping complications.
As part of the Brexit separation, the European Medicines Agency is relocating its headquarters to Amsterdam, taking with it 900 jobs and an estimated economic impact of $1 billion.
By Eric Sagonowsky
Source: Fierce Pharma
Monday, the French pharma giant officially moved into its new global home base in Paris, dubbed La Maison Sanofi. The 9,000-square-meter (about 96,875-square-foot) facility comprises two historic buildings and will host around 500 employees, the company explained in a release.
On the first day of the new year, former Sandoz chief Richard Francis will take the reins from Schultz, who is hanging up his CEO hat to retire on Dec. 31, Teva said Monday. The news comes a little more than two weeks after Teva publicly said it was looking for Schultz’s replacement.
General Electric Co. set the terms for the spinoff of its healthcare division, putting an initial value of roughly $31 billion on the soon-to-be-public company. The Boston conglomerate plans to split into three separate public companies by early 2024. Following the healthcare spinoff, it plans to separate its aerospace business from its power and renewable-energy units.