Drug Giant Novartis Is Temporarily Backing Off Price Increases Following Trump Pressure

President Trump on Thursday praised drug giant Novartis for temporarily postponing drug price hikes less than a week after Pfizer made a similar decision. But it’s unclear how much Novartis’ move will actually benefit consumers and patients.

“We thought the prudent thing to do was to pull back on any further price increases in 2018 and evaluate as the environment evolves,” Novartis CEO Vas Narasimhan said in an interview with Bloomberg. Trump replied in kind: “Thank you to Novartis...

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