Administration reaches deals with 9 drug companies to lower drug costs

The White House announced Dec. 19 that it reached most-favored-nation deals with nine pharmaceutical companies, aligning their drug prices with the lowest paid by other developed nations. The companies are Amgen, Boehringer Ingelheim, Bristol Myers Squibb, Genentech, Gilead Sciences, GSK, Merck, Novartis and Sanofi. Similar to previous announcements, the nine companies will provide all state Medicaid programs access to MFN prices on their products and must offer medicines at deep discounts off the list price when selling directly to American consumers. In addition, GSK, Bristol Myers Squibb and Merck will donate ingredients for medications to the Strategic Active Pharmaceutical Ingredients Reserve.