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Orgenesis CEO says companies looking for ways to get costs of medicine down

US officials and lawmakers have criticized drug makers for their expensive medications
Orgenesis is a manufacturer, service provider and developer of advanced cell therapies.

The chief executive of Orgenesis Inc (NASDAQ:ORGS) said on Friday biotech companies are looking for ways to lower the cost of drugs.

"I think industry is dedicated to that. We certainly have a pivotal role I think in that space," Vered Caplan, the CEO of the company, said in an interview on Yahoo's Midday Movers..

She added: "If you look at the hospitals that are involved, the research institutes, they are all looking for a way from the science perspective how do we get the costs down."

US officials have criticized drug makers for the expensive drugs they make.

Shares of Orgenesis closed on Friday up 1.26% to $6.45.

READ: Orgenesis' cell therapy development business pushes into the US

Caplan said there is a technology issue where investments must be made in the development of cutting-edge drugs.

"Let us look at the drugs we make. These are the next-generation," she said.

She said women are "very well accepted" when asked about the fact that there are very few women in the top ranks of companies in the country.

Orgenesis is a manufacturer, service provider and developer of advanced cell therapies.

The company is based in Germantown, Maryland.

Reporting by Rene Pastor, contactable on [email protected]

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