Makers of Botox Promise Not to Increase Prices Too Much
In a blog published on the company’s website, CEO and president Brett Saunders states that Allergan is making “a social contract with patients”—one that promises to “take price increases no more than once per year and, when we do, they will be limited to single-digit percentage increases.” Saunders also promised to not raise prices on products that have patents nearing expiration.
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"I think the entire biopharmaceutical sector needs to take a step back, look in the mirror and figure out how do we discipline ourselves and self-police ourselves to be able to balance investing in research and development and innovation—and pricing our medicines responsibly," Saunders said. "Allergan is going to be a different kind of company that's going to put the social contract with patients and physicians in front of all of our business decisions. And in doing so, we can run one of the most successful growth pharma companies in our industry."