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Novartis chief eyes ways to end higher US drug prices: media
- Novartis CEO Vasant Narasimhan stated on Saturday that the company is exploring options to reduce medication costs for Americans amid looming US tariff concerns.
- This follows US President Trump’s pressure on drugmakers to lower prices and threatening tariffs up to 250 percent if prices do not drop.
- Novartis intends to commit $23 billion to expanding its US operations over the next five years and anticipates that this swift growth, which requires only 1,000 to 1,500 new employees, will completely offset any tariff impacts.
- Narasimhan mentioned that Novartis is collaborating with government officials to develop effective strategies aimed at reducing the cost of medications for American consumers, while also expressing concerns about tariffs affecting the pharmaceutical industry as a whole.
- The company maintains a medium-term revenue growth outlook of 5% from 2024 to 2029, suggesting it expects to manage tariff risks and price pressures effectively.
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Swiss pharma giant eyes ways to end higher US drug prices amid US tariff threat
Amid a threat of towering US tariffs, Swiss pharmaceutical giant Novartis is seeking ways to enable Americans to pay less for their medicines, its chief said in an interview published Saturday.
·Switzerland
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Swiss drug giant looks for ways to lower U.S. prices amid tariff threat and admits Americans 'pay for a large part of the innovations'
"We are working with the government and trying to find constructive solutions so that Americans pay less for their medicines."
·New York, United States
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Coverage Details
Total News Sources68
Leaning Left8Leaning Right11Center15Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 24%
C 44%
R 32%
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