Novartis freezes drug prices, Trump thanks them

Jul 20, 2018

Under pressure from President Trump, Novartis announced it will not raise prices this year in the United States.

Joining rival Pfizer — who said it will delay the scheduled price increases until Jan. 1 after being lambasted by Trump on Twitter — Novartis CEO Vas Narasimhan said that the company wouldn't follow through with U.S. price increases that had been planned for the third quarter, as a “prudent” measure.

“Thank you to Novartis for not increasing your prices on prescription drugs. Likewise to Pfizer,” tweeted Trump.

In recent weeks, Novartis, Gilead Sciences, Roche Holding and Novo Nordisk sent notices to California health plans rescinding or reducing previously announced increases on at least 10 drugs, reported Bloomberg.