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By Yasmeen Abutaleb
July 19 (Reuters) – Merck & Co on Thursday introduced selling price cuts to some of its medications, like a 60 percent reduction to a minor-applied hepatitis C therapy, after U.S. President Donald Trump criticized drugmakers for failing to support lower healthcare prices for individuals.
Amid heightened public and political scrutiny in excess of the superior price of prescription medications and guarantees by Trump that drug selling price reductions were coming, New Jersey-based mostly Merck became the to start with major drugmaker to announce voluntary cost decreases.
In addition to slashing the rate of Zepatier for hepatitis C, Merck mentioned it would lessen the listing price of 6 other older medicine by 10 p.c. It also claimed it would not boost the typical web rate of other medications in its portfolio of goods by additional than the inflation level every year.
Merck’s most crucial product or service, the most cancers drug Keytruda, lists for about $150,000 a yr.
Trump, who has vowed to assist lessen the expense of prescription medicine to individuals, had expressed anger at drugmakers about planned cost hikes. In a tweet on July 9, he said they “should be ashamed” and that his administration would answer.
Under immediate pressure from Trump, Pfizer Inc, the most significant U.S. drugmaker, explained it would hold off July 1 price boosts right up until the end of the calendar year or right until the president’s blueprint for decreasing drug charges goes into influence.
Swiss drugmaker Novartis followed this week, declaring it would not increase selling prices in the United States for the rest of the calendar year.
Though Pfizer and Novartis only promised delays to rate hikes, Trump stated they decided to not increase rates. He has not however commented on Merck’s announcement.
“This choice (by Merck) is a response to President Trump’s blueprint and displays the industry’s being familiar with that the President is severe about bringing change to our drug markets,” U.S. Health and Human Chicago escort solutions Secretary Alex Azar stated in a assertion.
Trump produced decreasing prescription drug selling prices a top 2016 presidential marketing campaign problem.
In Might, Trump unveiled a “blueprint” to lower drug selling prices that appeared to mainly spare drugmakers and as a substitute took purpose at “middlemen,” these kinds of as health insurers and pharmacy gains supervisors, which demand hefty rebates in exchange for broad access to individuals. Pharmaceutical corporation stocks rose soon after the blueprint was declared.
The value of health care is expected to be a big campaign concern in advance of November midterm elections, with control of equally the Residence of Reps and the Senate, both equally at present controlled by Trump’s fellow Republicans, perhaps up for grabs. (Reporting By Yasmeen Abutaleb Editing by Bill Berkrot)
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