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Merck CEO concerned about proposed drug pricing…

Merck CEO concerned about proposed drug pricing…

Signage is seen at the Merck & Co. headquarters in Kenilworth, New Jersey, U.S., November 13, 2021. REUTERS/Andrew Kelly

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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.

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Reporting by Leroy Leo in Bengaluru; Editing by Arun Koyyur

Our Standards: The Thomson Reuters Trust Principles.

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