GSK agrees to lower US drug prices across respiratory portfolio

(Sharecast News) - Drugmaker GSK has struck an agreement with the US to cut the cost of prescription medicines for American patients, including its broad respiratory portfolio used by more than 40m people with conditions such as asthma and COPD. GSK said on Monday that the deal met all four actions requested by Donald Trump and will see it reduce prices for certain medicines within Medicaid and introduce new products using what it described as a more balanced pricing approach.

The FTSE 100-listed group will also make most of its inhaled respiratory portfolio, along with other products, available through a direct purchasing platform offering savings of up to 66%, and support the resilience of the US supply chain by securing a national reserve of albuterol, the active ingredient used in many inhalers to treat asthma and COPD.

Chief executive Emma Walmsley said: "Today's announcement builds on GSK's strong track record of increasing access and improving the affordability of its medicines worldwide, including an ongoing commitment to responsible pricing. GSK has been at the forefront of respiratory innovation for decades - helping millions of Americans prevent and treat chronic respiratory diseases such as asthma and COPD.

"Through this agreement, GSK will ensure patients have access to the current portfolio of respiratory medicines while bringing the next wave of innovation to American patients."

Reporting by Iain Gilbert at Sharecast.com