In a groundbreaking move that echoes the ethos of President Donald Trump's campaign against inflated drug prices for Americans, Bristol Myers Squibb (BMS), a leading U.
S. pharmaceutical company, announced on Monday that its new flagship drug will be launched at an identical price in the United Kingdom as in the U.S.
According to Breitbart, BMS is set to introduce its schizophrenia drug, Cobenfy (xanomeline and trospium chloride), in the UK in 2026, with a list price mirroring that in the U.S. This unprecedented move positions BMS as the first to harmonize U.S. and overseas pricing, marking a significant triumph for Trump's efforts to instigate change in the pharmaceutical industry and put an end to what he termed "foreign free-riding."
Adam Lenkowsky, Chief Commercialization Officer at Bristol Myers Squibb, expressed the company's alignment with Trump's stance, stating, "We agree with the Trump Administration that other countries need to pay their fair share. By making this commitment, we are asking the UK to step up in recognizing the value of truly innovative therapies."
In May, Trump revealed his intention to sign an executive order on drug pricing, a move he claimed Democrats had long resisted. He highlighted the global bewilderment over the exorbitant cost of prescription and pharmaceutical drugs in the U.S., often "five to ten times more expensive than the same drug, manufactured in the exact same laboratory or plant, by the same company."
Trump's proposed solution was the implementation of a "Most Favored Nation's Policy," which would ensure the U.S. pays the same price as the nation with the lowest global price. He predicted a swift reduction in "Prescription Drug and Pharmaceutical prices...almost immediately, by 30% to 80%."
Following the signing of the executive order, Breitbart News Economics Editor John Carney lauded Trump's move as "a starting point" and "a long-overdue assertion of national interest in a sector that has for too long been shielded from scrutiny." He emphasized that the success of the initiative would hinge on its implementation, legal resilience, and negotiation follow-through.
Monday's announcement is a welcome relief for patients who have long shouldered the burden of inflated U.S. drug prices. Trump has consistently prioritized this issue, asserting in a September interview with Fox that his administration would be "reducing drug costs over the next year, year and a half," heralding this as "a monumental change in healthcare."
Carney further elucidated the price discrepancy between the U.S. and other developed nations, attributing it to the latter's use of centralized price negotiation or regulation. He criticized the U.S.'s unique approach of allowing manufacturers to dictate their prices, which are then covered by insurance plans, both public and private, terming it "not a market. That is a racket."
Guy Oliver, General Manager of Bristol Myers Squibb UK, acknowledged these challenges and the necessity for the UK government's involvement, a step unlikely to have been taken without Trump's urging. He expressed the company's commitment to working with the NHS, NICE, and other authorities to make the drug accessible to all eligible UK patients, but emphasized the need for a new approach and increased government collaboration with the life sciences sector.
BMS has also made it clear that it is prepared to withdraw from the UK market if regulatory agencies refuse to purchase the drug at the same price offered in the U.S. Lenkowsky affirmed, "Our intention is to work with the UK health authorities to make this medicine available, but we are prepared to make the difficult decision to walk away if they cannot better recognize the value our medicine brings to patients and society."
This bold stance underscores the company's commitment to equitable pricing and the value of innovative therapies.
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