No­var­tis CEO Vas Narasimhan hits the brakes on US drug price hikes -- right af­ter tap­ping the gas

Pres­i­dent Don­ald Trump may not be get­ting the cas­cad­ing drug prices he promised, but he is hold­ing the line against any in­creas­es — at least for this year.

No­var­tis CEO Vas Narasimhan to­day joined Pfiz­er CEO Ian Read in promis­ing to put the brake on US drug price hikes. And that will add to the pres­sure on the rest of the ma­jor play­ers to do the same.

“We have vol­un­tar­i­ly pulled back on any fur­ther price in­creas­es this year,” Narasimhan told re­porters dur­ing a con­fer­ence call to­day.

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