The head of pharma group Novartis has warned that the US government’s reform of drug pricing risks damaging public health as drugmakers have already begun to cut investment in pills for the elderly.
Vas Narasimhan, who is the president of industry lobby group Phrma, said the Swiss drugmaker and its rivals were deprioritising pills, which under President Joe Biden’s Inflation Reduction Act will have a shorter exclusivity period of nine years, compared with 13 years for drugs delivered as infusions.
Extending the period for pills to 13 years was the “top top top priority” for the industry, he added. Prior to the new legislation the average exclusivity period for pills stretched to 13 years, according to an influential study.
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