Novartis Joins Pfizer in Holding Line on Drug Prices in U.S.
- CEO Narasimhan says pulling back was ‘prudent thing to do’
- Swiss drugmaker says cost of drugs must relate to value
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Swiss drugmaker Novartis AG is holding the line on U.S. prices this year as an attack from President Donald Trump led rival Pfizer Inc. to delay planned increases for some medicines.
Novartis has voluntarily pulled back on increasing prices in the U.S., Chief Executive Officer Vas Narasimhan said on a call Wednesday. The company wants the cost of its medicines to be “reasonable” and “defensible” and to reflect their value for patients, he said.