Pharma Giants to Lower Drug Prices
Update: 2025-12-19
Description
Major pharmaceutical companies, including AbbVie, Bristol Myers Squibb, Gilead, and Merck, are set to announce price reductions for certain prescription drugs, following negotiations with the U.S. government. This move is part of a broader initiative to address drug pricing, initiated by letters from the former President to pharmaceutical leaders. Five companies have already agreed to price controls, while discussions continue with the remaining twelve. The goal is to ensure U.S. drug prices are not higher than in other high-income countries.
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