Novartis freezes drug prices in a nod to Trump

22 July, 2018, 01:42 | Author: Denise Dawson
  • Representative Image	  				  $.first().removeAttr;$.first().css

In response to a congressional inquiry, Novartis said it planned to raise the prices of some drugs this year.

In response to the heated political rhetoric over the cost of prescription drugs, Novartis has decided not to raise prices on its medicines in the US for the rest of 2018.

Earlier this month, after the end of the period reflected in the disclosures, Pfizer made a decision to delay expected increases in drug prices after Trump tweeted the company was "merely taking advantage of the poor".

Swiss drugmaker Novartis said on Tuesday it would not raise prices on its USA products for the remainder of the year, following a similar move by Pfizer the week prior.

Merck & Co.is just the latest pharma to make a public show of its pricing policies, but much like pledges from Pfizer and Novartis, the moves may do more to help the industry's public relations image than realistically make a dent into healthcare system costs.

The statement came after Pfizer reversed and froze price increases on some drugs in the United States following president Donald Trump's social media spree. "Likewise to Pfizer. We are making a big push to actually reduce the prices, maybe substantially, on prescription drugs", Trump said in a tweet. The company will drop the price of Zepatier, a Hepatitis C drug, by 60%, and decrease the costs of "several other" drugs by 10%.

Pep Guardiola says Jorginho joining Man City would have been a 'mistake'
Eric Garcia is 17 or 18 and played like he is 24 or 25 and Riyad played good in his first game. He also notes how good a player he is. "I can't say why certain decisions were made".

Liverpool boss Klopp believes Alisson final summer signing
Of course, there's more to this than just translating his Serie A numbers over to the Premier League . Alisson also made more stops in the UEFA Champions League (46) in 2017/18 than any other goalkeeper.

Israeli fire kills four Palestinians as troops shot at on Gaza border
Khalil Al-Hayya, Hamas's deputy chief in Gaza, said the kites would continue to fly. "Your soldiers are still in our hands". Israel has been accused of using excessive force against Palestinian protesters, an allegation its leaders have denied.

Recently, Pfizer was lambasted by President Donald Trump over its price hikes and announced it would roll them back.

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.

Merck said in a press release Thursday that it has "a long history of responsible drug pricing".

In May, the Trump administration outlined a plan for lower prices, but critics have said it did not go far enough.

Pharmaceutical Research and Manufacturers of America spent $5.54 million between April and June, down 7.7 percent from the same period previous year, according to disclosures released by the federal government on Friday.

Recommended:



Popular

African American-Led BUFFY THE VAMPIRE SLAYER Reboot In Development with FOX21
Talks reportedly began in the fall of that year; THR notes that Breen's involvement pushed the project to the next stage. Gail Berman , Joe Earley , Fran Kazui and Kaz Kazui will also executive produce.

President Trump Calls Former Lawyer Michael Cohen's Phone-Taping 'Perhaps Illegal'
Trump's current attorney, Rudy Giuliani , said the payment was never made and the tape shows Trump did nothing wrong. Trump had apparently been unaware of the recordings until he was told about them earlier this week.

Comic-Con 2018: Cool New Spider-Man PS4 Pro Bundle Announced
The package consists of a red PS4 Pro console with a 1TB internal storage and bearing the Spider-Man design. From today, it's possible to pre-order the limited edition version of Sony's most powerful games console.

Roseanne defends tweet on YouTube, thought Valerie Jarrett was white she says
Nearly two months after Roseanne Barr was sacked ABC, the actress is launching her own talk show on YouTube, TMZ reports. She added that her tweets "didn't mean what they think I meant ..." I have loved ones who are African-American.

Facebook boss Mark Zuckerberg in Holocaust denial dispute
Zuckerberg said that as long as posts are not calling for harm or violence, even offensive content should be protected. Facebook has been under scrutiny for its role in letting " fake news " and hate speech exist on its platform.

Diplomat says Russian Federation "open" to Putin visit after Trump's invite
US officials have been mum on what, if anything, the two leaders agreed to in Helsinki during a two-hour, one-on-one meeting. When pressed by Alexander, she said she agreed with the intelligence community's assessment " full stop ".

Target Releases Limited-Time Deals to Compete with Amazon Prime Day 2018
A number of other retailers, from Target to Urban Outfitters, are offering their own deals during Prime Day . Without further ado, here are the best deals from Amazon Prime Day that you can still get.

Meghan Markle Is Called Out By Half-Sister For Allegedly ‘Ignoring’ Her Father
He also speculated that Markle looks "terrified" about her new royal life and all the pressures that come along with it. Given his comments in the recent Sun story, it's unlikely the Duchess is laughing at her father's antics.

Sarah Palin's Daughter Bristol Is Joining 'Teen Mom OG'
She joins cast members Maci Bookout , Amber Portwood and Catelynn Lowell on the long-running MTV docuseries. She posted on Instagram , "10 years ago this week - my life took the biggest possible turn".

Putin Summit: Trump says he 'misspoke in Helsinki'
It wasn't just what Trump said in Helsinki, it was how he acted - like a supplicant to Putin - and that's the most troubling part. Donald Trump has accused critics who condemned his disastrous meeting with Vladimir Putin of having 'Trump Derangement Syndrome'.