The White House has apparently prepared an agreement to reduce drug prices with the pharmaceutical companies Novartis and Roche and may want to announce it as early as Friday.
This was reported by the Bloomberg news agency on Wednesday evening, citing people familiar with the matter.
The agreements could be part of a broader announcement that would also include other pharmaceutical companies, it is said, although the details have not yet been finalized. The aim is therefore to give companies relief from impending tariffs in return for lower prices on certain medicines.
Pressure on pharmaceutical prices
The talks should be seen in the context of the easing of trade relations between Switzerland and the USA. As is well known, Switzerland had tentatively agreed with the USA in November to reduce tariffs on numerous Swiss products to 15 percent from the previous 39 percent. Although medicines were exempt from the tariffs, US President Donald Trump had repeatedly threatened future taxes.
Trump sent letters to 17 pharmaceutical companies in the summer demanding price reductions for a US state insurance program. In addition, companies should offer their medicines via a platform aimed directly at patients and align future prices with international levels. In return, the government promised a grace period of several years for tariffs and regulatory measures.
No comment in detail
The two companies and the US government did not want to comment in detail on an upcoming agreement to Bloomberg. Novartis only confirmed discussions with the US government and stated that it was committed to finding solutions that reduced costs for US patients. Genentech, Roche’s US subsidiary, has also signaled its willingness to cooperate. The White House, however, emphasized that before an official statement was made, it was speculation.
High drug prices in the United States have long been a political point of contention. Both Swiss companies have therefore recently announced investments worth billions in the USA.
ZURICH (dpa-AFX)
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