Former N.J. Gov. Chris Christie weighs in on pharmaceutical industry's prospects

Former Gov. Chris Christie described current American politics and government leadership as “disruptive” for the pharmaceutical industry and patient treatment during the Lerner Center’s annual healthcare symposium at Rutgers Business School.

Christie, who has served as a member of the board at Pacira Biosciences, was candid about the industry's challenges and critical of its ability to effectively defend itself during a fireside chat-styled discussion with Michael Lerner, who helps lead a center created more than 20 years ago by his father, Irwin Lerner, former CEO of Roche Pharmaceuticals.

Christie said President Donald Trump’s populist polices, specifically those aimed at lowering drug prices, will end up putting the U.S. population at a disadvantage when it comes to obtaining medicines. “If innovation and manufacturing move to China, low prices will matter less than the fact that you get the prescription drugs,” Christie said. 

When asked what advice he would give to the pharmaceutical industry to address how the federal policy is playing out, Christie suggested that the industry stop the ubiquitous advertisements for its prescription medicines and run commercials about the pressure on drug pricing and its impact on the industry’s ability to research and develop new medicines.

“The pharmaceutical industry has been extraordinarily timid and frightened to have this fight,” he said.

The annual symposium is a signature event for the Blanche and Irwin Lerner Center for the Study of Pharmaceutical Management Issues. Each spring, it brings together industry professionals, alumni, academia and students to explore some of the most pressing challenges and biggest trends facing the pharmaceutical and biopharmaceutical businesses. Professor Mahmud Hassan, director of the center, said he was "grateful and honored" to have Christie as a speaker.

Christie spoke brashly about Trump’s positions on the trade deficit, tariffs, and his appointment of Robert Kennedy Jr. as head of the Department of Health.

He also recounted his actions as governor to save hundreds of millions in healthcare costs by requiring PBMs – pharmacy benefit managers – to bid against each other for business. “They’re the middlemen who steal from the industry and from patients,” Christie said, adding that it was one of few policies that was not reversed after he left as governor.

Jarret Bruno, a part-time student in the Rutgers MBA Program, said he appreciated the former governor’s knowledge and candor. “I think the public can benefit from more transparency,” Bruno said, adding that most people don’t understand the impact pharmacy benefit managers have on costs – or even the role they play.

Because he is working while he’s pursuing an MBA, Bruno said it’s unusual for him to attend an event on campus. The symposium represented an opportunity to network and hear more about an industry he hopes to work in.

“I’m thrilled to to be here,” he said.

The talk with Christie was followed by a panel discussion on the impact of artificial intelligence in the pharmaceutical industry. Jaideep Vaidya, vice dean for faculty affairs and research, moderated a discussion among Taiwo Akinnuoye of Microsoft; John Boos of HendrenAI and Bolu Oladini of Pfizer.

-Susan Todd