Home / Business and Economy / Swiss Pharma CEO: US Drug Deals Raise Prices Globally
Swiss Pharma CEO: US Drug Deals Raise Prices Globally
21 Dec
Summary
- US drug price deals may increase costs for new Swiss medications.
- Washington aims for wealthier nations to fund drug innovation.
- Higher Swiss drug prices could delay new medicine introductions.
Deals struck between U.S. pharmaceutical companies and Washington to reduce drug prices in America are expected to raise the cost of new medicines in Switzerland, according to Roche CEO Thomas Schinecker. He stated that the U.S. aims for other wealthy nations to contribute more significantly to the funding of medical innovation.
Schinecker explained that the U.S. will consider a country's economic strength, specifically GDP per capita, when setting medicine prices. If a nation's GDP per capita exceeds that of the United States, Washington anticipates higher drug prices in line with greater economic prosperity. While current medications in Switzerland won't see immediate price increases, future drug launches are expected to gradually adopt this new pricing system over the coming years.
This prospect has raised concerns among Swiss politicians, particularly given the pharmaceutical industry's importance to the Swiss economy. Schinecker cautioned that if Switzerland resists higher prices for new medicines, it could result in further delays in the introduction of these crucial therapies. Discussions are underway with several countries, including Denmark, Germany, France, Britain, Italy, Japan, Canada, and Switzerland, regarding these pricing changes.
