Merck CEO concerned about proposed drug pricing bill hurting innovation
Signage is seen at the Merck & Co. headquarters in Kenilworth, New Jersey, U.S., November 13, 2021. REUTERS/Andrew Kelly/File Photo Purchase Licensing Rights
July 28 (Reuters) - Merck & Co (MRK.N) Chief Executive Rob Davis on Thursday raised concerns that a proposed bill to curb drug prices would hurt innovation, but said it would not impact sales of the company's top-selling drug and vaccine in the near-term.
Davis said the legislation, proposed by U.S. Democratic Senator Joe Manchin and Senate Democratic leader Chuck Schumer, leads to price setting of drugs after a number of years, which could have a "highly chilling" effect on innovation in areas like cancer drugs. read more
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Reporting by Leroy Leo in Bengaluru; Editing by Arun Koyyur
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