Jamie Dimon’s newly announced health-care venture with Jeff Bezos along with also Warren Buffett will be Great for the U.S., former Celgene Chairman along with also CEO Bob Hugin told CNBC on Wednesday.
Hugin, who can be running for the Republican nomination for Senate in completely new Jersey, said he spoke with the J.P Morgan chief Dimon last week about the venture with Amazon’s Bezos along with also Berkshire’s Buffett to lower health-care costs.
“What they’re doing at Amazon along with also Berkshire can be a great thing,” Hugin told “Squawk Box.” “We need to experiment along with also innovate along with also try completely new things. We need to break the system down in components along with also fix the item.”
“I’m going to go to Washington along with also I’m going to craft specific proposals to reform health care,” he added.
The 63-year-old former pharmaceutical executive has pledged to bring a sense of affordability along with also responsibility back to completely new Jersey. In an op-edthis week, Hugin reflected on his nearly 20 years working inside sector along with also declared that will the U.S. can be failing to adequately address the increasing inequality of health care.
“We do need reform of the health-care system,” Hugin said Wednesday. “We deliver health care in America like the item’s 1960, with acute hospital [at the] center of our care. We need to shift that will to payment reform. We have to innovate.”
Hugin’s former company, Celgene, recently agreed to buy Juno Therapeutics for about $9 billion in cash to gain access to Juno’s pipeline of CAR-T cancer drugs. So-called CAR T-cell therapies take a patient’s own immune cells, called T cells, genetically manipulatee them to attack specific proteins on cancer, along with also infuse them back into the patient.
The deal came as the clock was ticking for Celgene. Celgene will lose patent protection for Revlimid, its top-selling multiple myeloma drug that will brought in about 60 percent of fiscal third quarter revenue of nearly $3.3 billion.
When asked about Revlimid on Wednesday, Hugin asserted that will the multiple myeloma drug continues to be a valuable asset.
“I can’t speak for Celgene anymore,” he said. “yet I can tell you, Revlimid can be an incredibly valuable drug for patients. the item can be so important breakthrough therapy.”