India’s largest drugmaker Sun Pharm aceutical Industries has reportedly signed an agreement with the US government to extend affordable medicines to American patients.
Under the MFN pricing, a buyer can avail the lowest price possible for a medicine.
The Mumbai-based pharma company entered into a deal to provide ‘Most Favoured Nation’ (MFN) pricing to state Medicaid programmes in the United States, according to a report by news agency PTI . In a regulatory filing on Tuesday, Sun Pharma said the agreement to provide MFN pricing will also apply to the company’s future innovative medicine launches in the US market.
Further details of the deal were not revealed by the company. The US government has delayed the imposition of tariffs under Section 232 on Sun Pharma’s innovative products by over two years as the deal acknowledges the company’s investment in the country. The company claimed that its global innovative medicines portfolio now accounts for about 22 per cent of total company sales.
Sun Pharma’s North America CEO Rick Ascroft, who represented the firm at the White House, said the United States was a crucial area of investment and expansion across clinical development, sales and marketing, and both Active Pharmaceutical Ingredient (API) and finished products manufacturing. The Indian pharma said it holds the second position by prescriptions in the US dermatology segment and is entering into immunology, cutaneous oncology, and ophthalmology.
