'Sun Pharma to lower drug prices for Americans'

On Monday, US President Donald Trump announced that nine pharmaceutical companies, such as Sun Pharma, have reached agreements with his administration to reduce prescription drug costs for Americans, aligning them with the cheapest prices observed in other developed nations.

These deals, which bring the total count of pharmaceutical manufacturers with most-favored-nation (MFN) pricing arrangements with the administration to 26, cover 89% of the branded drug market. The other seven companies involved are Alcon, Astellas Pharma, BeOne Medicines, BridgeBio, CSL, Kyowa Kirin, and UCB.

The agreements cover medications for various expensive chronic and rare diseases, including cancer, hemophilia, Parkinson's disease, macular degeneration, glaucoma, liver disease, and skin conditions. As part of the deal, every state Medicaid program in the US will have access to the MFN drug prices for products produced by the nine companies, leading to billions of dollars in savings for Americans.

In addition to lowering existing drug prices, the companies have committed to offering MFN pricing for all new innovative medicines they bring to market to prevent other countries from benefiting from lower prices while American patients face higher costs. Sun Pharma, in particular, will contribute active pharmaceutical ingredients (APIs) to the US Strategic Active Pharmaceutical Ingredients Reserve (SAPIR) to reduce the country's reliance on foreign suppliers and bolster supplies during emergencies.