Allergan Lifts Earnings Target, Says No Drug Price Hikes This Year

Source: Reuters

Allergan raised its yearly earnings forecast on Thursday thanks to rising sales of mainstay product Botox, and said it did not expect to increase drug prices this year, according to a report in Reuters.

The remarks about curbing price hikes echoed sentiment from Allergan’s peers including Pfizer, Merck and Novartis, as U.S. President Donald Trump’s administration intensifies efforts to tackle escalating healthcare costs.

Allergan Chief Executive Officer Brent Saunders highlighted his company’s “social contract with patients,” and its pledge in 2016 to limit yearly price increases to 10 percent.

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