Novartis Becomes Second Pharma Company To Pull Back On Price Increases
22 Julio, 2018, 01:39 | Author: Earnest Bishop
In response to a congressional inquiry, Novartissaid it planned to raise the prices of some drugs this year. "When I looked at the policy environment in the USA with our team, we thought the prudent thing to do was to pull back on any further price increases in 2018 and evaluate as the environment evolves", Novartis chief executive Vas Narasimhan told Bloomberg Television, shortly after the drug maker first disclosed its decision as part of its latest earnings report on Wednesday.
"We thought that was prudent, given the dynamic environment we're now in", he said on the call, according to multiple reports.
We are also lowering our price on ZEPATIER by 60 percent and several other medicines by 10 percent to reduce out-of-pocket costs for patients across the country.
However, his administration did little until May, when it rolled out its 44-page "blueprint" for increasing competition, reducing regulations and changing the incentives for all players in the drug industry.
Trump's administration outlined a plan for lower prices a few months ago. For context, Merck brought in $8 million in U.S sales during just the first quarter from its statin Vytorin (ezetimibe/simvastatin), which went generic in the beginning of 2017.
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