Columbia Cuts Price of Novartis Cancer Drug by 44 Percent

December 21, 2016

(Reuters) – Colombia’s government has lowered the price of Novartis cancer drug imatinib by nearly half in a bid to cut healthcare costs after failed price negotiations with the Swiss company. Novartis will be legally obliged to sell the drug, which is used to treat leukemia and other cancers, at the new price. The new cost per milligram is 44 percent less than the original price, the Colombian Health Ministry said in a statement late on Tuesday.