U.S. government plans to rein in drug prices could discourage work in some of Novartis's most promising areas of research, the Swiss drugmaker warned on Friday, urging Washington to rethink the 'unintended' effects of its new rules.
The company's logo is seen at the new cell and gene therapy factory of Swiss drugmaker Novartis in Stein, Switzerland, November 28, 2019. REUTERS/Arnd Wiegmann/File Photo/File PhotoSays IRA rules discourage work in RNA, radioligandsFRANKFURT, Jan 20 - U.S. government plans to rein in drug prices could discourage work in some of Novartis's
Lawmakers' intention may be to favour sophisticated biologics over seemingly more conventional chemical drugs, but some of the most promising new treatment approaches belong to the latter group, said Victor Bulto, Novartis's President Innovative Medicines for the U.S. market. The United States pays the most globally for its medicines. A nonpartian group used by U.S. Congress to estimate costs of legislation has predicted the IRA's drug pricing provisions will reduce the federal deficit by $237 billion over the next decade.
Bulto said there was still hope that U.S. lawmakers would come around on the "unintended" effect of discouraging work on small-molecule drugs relative to biologic protein drugs.
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