Trump’s Ozempic tariffs, Zepbound on Medicare, and rising drug prices: Pharma news roundup

The cost of prescription drugs is set to climb in 2025 and beyond, according to TD Cowen’s 30th Annual Drug Pricing survey. The investment bank polled 27 health maintenance organizations, pharmacy benefit managers, and hospitals during the fourth quarter of 2024, post-election. This group was responsible for about one-fourth of total U.S. drug spending in 2024 — about $179 billion. The respondents expressed a general consensus that drug prices are likely to continue rising steadily, fueled by a pipeline of high-cost treatments.

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