half in the united states in spite of the entry of biosimilars in the united states, we still expect to mid single digits for 2019 >>> now, as you heard there, the ceo said that they expect to see a similar impact in 2019 from biosimilar competition in europe as they saw in 2018, but i pressed him for a little bit more detail around the pace of erosion that they're expecting for two of their biggest legacy drugs facing this pressure and that's their map -- and herceptin, and i want to highlight that sales dropped 47% for the former and 16% for the latter in 2018 as a result of these pressures. take a listen to what he had to say about these drugs in particular >> the impact of matera actually will level off a bit on the other hand, we have ab increased impact of herceptin because it was later if you take it in total, the impact will be similar in europe again, the good news is that we can offset that with new launch launches, for example, our new cancer medicines we are very confident we'll continue to grow >> as you heard there, the ceo is confident that they will be able to offset

they're designed to make it faster for these biosimilar insulin products to enter the market, make itasier for them to enter the markets. the theory behind these regulations is that it will spur competition and lower cost. dana? >> dana: in the mean time, listening to her heart breaking story, that she never thought she would be on social media trying to find insulin, what can people do to find affordable insulin? >> reporter: in addition to those assistance programs offered by the insulin manufacturers, there are programs run by state governments, nonprofits, local pharmacies. and many of those programs are listed on the jdrf website, jdrf.org. dana? >> dana: thank you, jonathan. let's bring in a researcher on drug pricing at memorial sloan kettering hospital in new york. you were watching that with me and nodding your head. this is a story you've heard before? >> absolutely. this is a real policy failure. prices patients are paying for drugs are based on the list prices of the insulins as they're sold. so rebates are not, many patients have high deductible health plans and they're p

do you speed competition, you know, for more generics or what is commonly referred to today as biosimilars into the market. we know that competition always has a way of driving down cost. to eliminating some of the barriers that exist to expand the role of pharmacy benefit managers and utilizing some of the tools that have been proven to be able to reduce the net price of prescription drugs. >> what about eliminating the rebate model? >> well, alison, that gets -- now we're up to ten questions on that one. first of all, let me -- let me diffuse one of the beliefs that is out there, that, you know, pbms and rebates do not increase the cost of prescription drugs. there is an inverse relationship. when you look at -- if you looked at their therapeutic classes like rheumatoid arthritis or anti-con vul sants, the price increases in those categories are among the highest but yet the level of rebates in those categories are the lowest. so it's the inverse relationships of what many believe. this whole notion of rebates -- rebates are nothing more than discounts and in the industry those competito

growing, cardiovascular portfolio growing, bone health and migraine and then nugs we're launching biosimilar medicine which is we expect to be an important source as well so we expect to be a company that continues to grow handsomely on the top line and earnings per share over the long term. >> for the full interview with jim cramer and the ceo of amgen, stick around for "mad money" at the top of the hour. so should investors keep betting on biotech and the health care space? two major acquisitions in two weeks. >> i think so. this is not monday morning quarterback stuff. this is something we've been saying for some time, probably since earlier in the spring. i do think valuations are still reasonable in the case of eli lilly, for example, which is about to make an all-time high, if you like lily at 19.5 times forward earnings, you have to love pfizer at 14 times so there's room in this space. the fact that the president i believe on friday tweeted about drug pricing >> that would be the only thing i would say is the negative that it was on m&a that we didn't see the knee jerk reaction and n

it's called getting more biosimilars and genetics on the market. look at what foreign countries do.drugs and charge lower and lower prices. we can put a stop to that and we can say the drug was made here. why are they paying less for that? again, more options, more choices are going to bring down prices. the idea of super imposing a fixed price on this situation, well, that may bring down prices but you know what that's going to do? that's going to stifle innovation. cheryl: you know what, again, president obama got burned when he said you could keep your doctor under obamacare. kamala harris ignoring that. democrats may have a problem here. >> 200 million people are not going to get to keep their doctor. cheryl: exactly. don't learn from history, it seems. dr. seagal thank you for getting up early for us. we're going to be on this story all day at fox. >> thank you, cheryl. lauren: what about the half million people that work for the private insurance companies. what happens to them? coming up -- 2020, folks. theresa may wants to reopen brexit talks with the european union but is i

when it comes to biosimilars, neulasta so two major drugs that are facing some pressure and or competitionheumatoid arthritis. embrel beat on revenues. but the guidance wasn't conservative, the guidance was miserable. next year the street was looking for $14.57 they guided $13.10 to $14.30 first of all, you can drive a truck through that and that's pretty lousy guidance. i'm surprised the stock is not down more than it is again, this was a good quarter but to say that's conservative i think is giving them the benefit of the doubt. >> both those drugs in 2023 are going to be cut in half as far as their projections and what their revenues will be so you've got to have a tremendous pipeline. why not make it easy on yourself and the ibb has had its best month in two years buy the ibb instead of taking all these risks on these one-off fda approvals. >> embrel will face competition in a couple of years. >> that's true neulasta is almost as big a drug for them and they crushed it on that one for what it's worth, this is a very, very strong quarter. it tells you how bad the guidance was this was a

look at the base portfolio, if you take out the zytega impact and triclear and procrit and the biosimilarpect the portfolio to be well above market but that's part of the business, specifically in pharmaceuticals and navigating that headwind we'll see continued strength from trumfiya. and crohn's disease. we hope to treat more patients who are most in need and our oncology franchise continues to do well we're moving up lines of therapy so darzalak for multiple myeloma. it's having a tremendous impact not just for our business but for patients >> we're a full month into this partial government shutdown. it's impacting the fda looks like no end in sight is it affecting you? >> with the in line market portfolio, it certainly is not health and human services are still administering drugs and therapeutic options out there. where i would say we're becoming concerned is in new product approvals. we have a great new drug for treatment resistant depression we have a date for march 4th we just received word in recent days that an advisory committee was postponed due to the partial government shutdo