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Key points
- A fresh ultimatum that requires “mandatory commitments” to reduce drug prices in the US sent by pharmaceutical firms on Friday.
- President Trump has sent letters 17 major firms outlining the steps they must take to reduce the costs.
- On Friday, health care shares collapsed after extensive market losses when investors digesting Trump’s amendments.
Pharmaceutical firms are struggling to respond to the fresh ultimatum of US President Donald Trump, which requires “mandatory commitments” to reduce drug prices. On Thursday, the White House stated that President Trump sent letters to 17 major pharmaceutical firms, which set the steps they must take to reduce the price of US prescription drugs to the “most committed nation” (MFN) by September 29. They were told that if they “refuse to activate”, the government would deploy each tool in their “arsenal to protect US family families from permanent changing drugs that practice drugs.” Companies receiving letters were Abbvie, Amgen, Astrazeneca, Boehringer Ingelheim, Bristol-Myers Squibb, Eli Lilly, Emd Serono, Roche’s, daughter Genentech, Gilead, GSK, Johnson & Johnson, Merck, Navartis, Navartis, Navartis, Navartis, Navartis Novo Nordisk, Pfizer, Regeneron and Sanofi. On Friday, health care shares collapsed after extensive market losses when investors digesting Trump’s amendments. Wegovy Novo Nordisk shares fell by 5% in the early morning trade before breaking the losses to trade 1.3% below at 11:15 am in London (6:15 am et). Companies have reported that they should provide prices for MFN for all Medicaid patients, US healthcare programs for low -income patients. They were also told not to offer medication to other developed markets at better prices than in the US proposed, and that they should sell drugs directly to US patients, thus reducing pharmacies known as pharmacy (PBMS). Trump has long been breaking pharmaceutical firms for having Dubs are unjust pricing practices, earlier, planned to reduce US prices by 80%. In May, the President signed an order to reduce drug costs, linking some medicines in the US to much lower abroad within the MFN policy. The United States is consistently paid in the world for many prescription medicines, which are partly related to a very complex and fragmented compensation system and lack of national prices. The latest ad is, as the pharmaceutical industry also calls for visibility on potential tariffs throughout the industry. Earlier, Trump warned that they could be up to 200%. However, many companies shared that they agree with some Trump’s problems. Astrazeneca CEO Pascal Soriot said on Tuesday that the Anglo-Swedish firm closely maintained a connection with the US administration over MFN policy and the US production more widely. Last week, he announced plans to invest $ 50 billion in the US, following many other pharmaceutical firms. “There are problems around prices. I personally believe that the president has the right to say that prices should happen,” Soriot told reporters. Last month, you, Narasaman, the CEO of the Swiss outdated, said the firm is pursuing MFN’s decline in the US. Novo Nordisk press, meanwhile, stated that the company was “focused on improving the access and availability of patients” and that “will continue” to find solutions that help people get the medication they need. ” Time to answer. “Although the last proclamation of the government may seem tough, we believe that the case is discussed between the companies and the government, and we believe that there will be a significant negative impact on pharmaceutical companies,”
