Bristol Myers Squibb is making headlines with its new schizophrenia treatment, Cobenfy, which it plans to launch in the United Kingdom at the same price as in the United States—$1,850 a month. This decision is likely to please officials in the White House who have been advocating for lower drug prices for Americans.
The announcement came on Monday, following President Donald Trump’s ongoing efforts to reduce prescription drug costs for U.S. citizens. Bristol’s pricing strategy aligns with the administration’s goal of achieving more equitable drug prices across different countries.
This is a notable move for Bristol Myers Squibb, as it marks the first time the company has set the same price for a drug in both the U.S. and the U.K. Adam Lenkowsky, the company’s chief commercialization officer, stated that they are ready to withdraw Cobenfy from the U.K. market if local authorities do not accept the U.S. price. Lenkowsky emphasized the importance of recognizing the value their medication brings to patients and society.
Currently, Cobenfy has not been approved for sale in the U.K., but Bristol plans to file for approval in the coming weeks and expects a decision next year.
A report from the RAND Corporation last year highlighted that Americans pay significantly more for prescription drugs compared to other countries, with prices being 2.78 times higher on average. The Trump administration has been vocal about addressing this disparity, citing that the U.S. represents a small fraction of the global population yet contributes to a large share of pharmaceutical profits.
A recent executive order from the White House pointed out this imbalance, stating that drug manufacturers often offer steep discounts in foreign markets, which leads to higher prices in the U.S. The administration is pushing for drug companies to align their pricing strategies globally.
President Trump has expressed frustration over the current pricing structure, claiming that Americans often pay ten times more for medications than people in other countries. He has suggested using tariffs as leverage to encourage other nations to raise their drug prices to help balance costs for American consumers.
With Bristol Myers Squibb’s decision, the spotlight remains on how drug pricing will evolve in the U.S. and abroad, and whether this move will influence other pharmaceutical companies to follow suit.
