Allergan's Price Reform Pledge: Will Others Follow?
Allergan CEO Brent Saunders vows not to engage in price gouging and says his firm will limit cost increases to single-digit percentages, occurring only once per year. But it's unclear whether Saunders will stand as a lone wolf in the industry or if others will make similar pledges.
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Chairman/CEO Saunders says the board has determined that keeping him in the dual role is the right move going forward. He added that the company, which had a strong second quarter, won’t be rushed in its efforts to divest its women’s health and infectious disease units.
Pharma companies have responded to mounting political pressure to lower drug prices by pledging to limit increases and even roll back the costs of certain drugs, but it's hard to keep track of who has promised what exactly. Here, Scrip provides a listing of pharma pricing pledges.
It's the time of year when many drug companies raise prices on mature medicines, and Allergan is one that raised prices on several drugs in its portfolio by 9.5%, just barely keeping to its social contract with patients.