Sandoz pledges to ‘keep prices stable’ for essential meds amid coronavirus supply fears

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Sandoz, the generics division of Novartis, has pledged to keep the prices stable for a basket of essential medicines it markets amid growing global concerns about the supply impact of coronavirus.

“I am very concerned about reports that prices for basic medicines such as painkillers and antibiotics are rising substantially as a result of a tightening supply situation for active pharmaceutical ingredients out of China,” said CEO Richard Saynor.

“While I continue to believe that we need a coordinated and long-term approach to address the complex and interconnected issues of pricing, supply and quality, I also strongly feel the generics industry has a particular responsibility right now to ensure that patients can get the medicines they need.

“That’s why, with immediate effect, and despite current uncertainties about how the supply situation will evolve, Sandoz is committing as an initial response to keep prices stable for certain essential medicines it markets commercially, which may help in the treatment of coronavirus cases, specifically antivirals to reduce the impact of coronavirus and antibiotics to combat pneumonia.”

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