Following in the footsteps of their peers, Switzerland's two major pharmaceutical companies Novartis (NVS.US) and Roche expressed support for US drug price cuts

The Zhitong Finance App learned that Swiss pharmaceutical giants Novartis Pharmaceuticals (NVS.US) and Roche expressed support for US efforts to reduce drug prices on Thursday and are cooperating with the Trump administration to achieve this goal. Earlier, it was reported that the two companies were close to reaching a price agreement. A person familiar with the matter revealed that a drug pricing agreement involving these two pharmaceutical companies may be about to be reached, but he declined to specify when.

Trump wrote to 17 pharmaceutical companies in July urging them to drastically reduce drug prices. Pfizer (PFE.US) and AstraZeneca (AZN.US) took the lead in reaching an agreement to lower the price of prescription drugs in exchange for tariff relief. Last month, LLY.US (LLY.US) and Novo Nordisk (NVO.US) reached an agreement to drastically reduce the prices of US federal health insurance (Medicare), Medicaid (Medicaid), and commonly used GLP-1 diet pills for self-funded patients.

Novartis Pharmaceuticals said the company is in discussions with the Trump administration and is committed to finding solutions to reduce the cost of medication for Americans and resolve the price gap between the US and other high-income countries. Novartis Pharmaceuticals said, “We believe that all countries should pay due attention and share the costs of innovation fairly so that patients around the world can benefit in a timely manner.”

Roche said in a statement that the company supports Trump's goal of reducing drug costs and encourages other countries to reward biopharmaceutical innovation. “We are committed to working with governments and policymakers to develop sustainable solutions to protect innovation and safeguard patient care,” the company said.