Drug Prices: US Companies Pressure Europe for a Change

Big US drug companies are pushing Europe to raise their drug prices. They say they might stop sending new medicines to Europe if they don't get what they want. Pfizer's boss, Albert Bourla, said they will stop supplying France if they don't raise their prices. He said they can't accept lower prices and still make a profit. Other drug companies are also thinking about delaying or even stopping new drug launches in Europe. This is because they have made deals with the US government to lower drug prices there. The US president, Donald Trump, made these deals. He wanted drug companies to lower prices in the US or face penalties. Now, these companies want Europe to balance things out by raising their prices. Last year, Bristol Myers Squibb threatened to stop launching a popular schizophrenia drug in the UK if they didn't raise their prices. The UK did agree to raise prices, but the company says it's not enough. Gilead, another big drug company, also wants to raise prices in Europe after their deal with Trump.European countries have always been good at keeping drug prices low. They have government healthcare systems that can negotiate lower prices. But now, the US drug companies want to change that. They say they need higher prices to make up for the lower prices in the US. Not everyone agrees with the drug companies. Germany's biggest public health insurance provider says drug prices are already too high. They say higher prices won't help the economy. They will just make drug companies more profitable and burden the people paying for health insurance. This fight over drug prices might delay new drug launches in Europe. Right now, drugs launch in Europe about a year after they do in the US. Analysts say this could get worse if Europe doesn't give in to the drug companies' demands. They say Europe might have to find a way to pay more for drugs or risk not getting new ones.