Novartis braces for US drug price drop

ZURICH: Swiss pharmaceutical company Novartis AG wants to increase its operating margins by making production and other processes more efficient as it positions for possible further declines in United States drug prices, its chairman said in an interview. Joerg Reinhardt told the newspaper NZZ am Sonntag that Novartis was taking steps to increase its operating profit margin towards 35 per cent in no more than five years, from 32 per cent, and is closely watching developments in the US.