Merck commits to not increase average net prices by more than inflation annually
Merck noted that in 2017, the company issued its second annual Pricing Action Transparency Report, which showed that net prices across Merck's U.S. product portfolio declined by 1.9%. "We believe that further changes are still necessary to help reduce patient out-of-pocket costs. To demonstrate our commitment to achieving this goal, we are making the following announcement: We commit to not increase the average net price across our portfolio of products by more than inflation annually; We are also lowering our price on ZEPATIER by 60% and several other medicines by 10% to reduce out-of-pocket costs for patients across the country. The Merck products selected were based on a range of factors including the gap between list price and actual discounted, or net, prices paid in the market, the contractual obligations under existing arrangements with payers, and the opportunity to broaden access to treatment. Going forward, we will continue to evaluate our portfolio of products to look for opportunities to further reduce costs for patients and the health care system," the company announced.