Novartis AG Chief Executive Officer (CEO) Vas Narasimhan (pictured) told CNBC in an interview published on Tuesday that the full effects of United States President Donald Trump's Most-Favored-Nation (MFN) drug pricing initiative will "set in in the next 18 months."
Narasimhan admitted that the policy presents a "very difficult situation," adding that its "longer-term implications are significant." Previously, during an investor call, the CEO said the company's priority is an early rollout of its anti-allergy drug Rhapsido in Germany and Japan. He added that Rhapsido will not be completely covered by the MFN policy.
Earlier in the day, Novartis reported net sales of $13.1 billion in the first quarter, which came below estimates. As a result, the pharmaceutical company's shares trading at the SIX Swiss Exchange declined by 3.19% at 9:34 am CET to 110.46 Swiss francs ($139.97).
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.