BIO blasts Blue Cross Blue Shield report

The president and chief executive of leading US biotech trade group the Biotechnology Innovation Organization (BIO) has launched a scathing attack on a report which blames pharma companies for high drug prices.

Jim Greenwood reacted angrily at the findings of the prescription drug spending report from Blue Cross Blue Shield (BCBS), an association which represents US health insurance organizations.

"Rising patient out-of-pocket costs for drugs are largely driven by the increasingly burdensome cost-sharing requirements imposed by insurance companies"