AbbVie Vows to Keep Drug Price Increases Below 10 Percent - (FOX Business via NewsPoints Desk)

  • AbbVie CEO Richard Gonzales revealed that the company will keep all price increases on its drugs this year to less than 10 percent, Fox Business reported Wednesday.

  • The drugmaker became the third pharmaceutical firm to make such a pledge, following Allergan and Novo Nordisk.

  • "There's a strong debate going on right now about pricing," Gonzalez stated, continuing "we need to make sure we are operating in an appropriate way...and demonstrating the value of the products that we have."

  • The move came after US President-elect Donald Trump promised to start a bidding process over drug pricing that would reduce healthcare spending by billions.

  • Shares in AbbVie fell 4 percent on the news.

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