Bristol-Myers Squibb is the latest drugmaker to raise drug prices abroad to align with President Donald Trump’s “most favored nation” drug pricing policy, but has not lowered U.S. prices in return, the Financial Times reported Sept. 22.
The drugmaker will sell its new schizophrenia drug, Cobenfy, for $22,500 a year in the U.K. — the same cost as in the U.S. — once approved by overseas regulators. This is the first time Bristol-Myers Squibb has matched U.S. drug prices in the U.K., according to the report.
In August, Eli Lilly also raised the price of its weight-loss drug Mounjaro in the U.K. However, neither Bristol-Myers Squibb nor Eli Lilly has lowered the cost of their medications in the U.S.
The moves come after the Trump administration sent letters to 17 drugmakers in July, including Bristol-Myers Squibb and Eli Lilly, demanding they align U.S. drug prices with the lowest prices sold in other countries and not offer other high-income nations better prices than in the U.S. The White House set a Sept. 29 deadline for drug companies to comply, though it did not specify any penalties or enforcement actions.
