Pharma bosses call for higher drug prices in EU to counter tariff threat

European pharmaceutical leaders, including Novartis CEO Vas Narasimhan and Sanofi’s Paul Hudson, have urged the EU to raise drug prices to align more closely with US levels to foster innovation. In a letter to the Financial Times, they argue that current lower prices in Europe hinder market growth and discourage investment, noting that 30% of new medicines in the US are not available in Europe within two years. They warn that without urgent action, European biopharma competitiveness will decline, especially amid increasing competition from China and looming tariff uncertainties.

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