Colombia Aims to Cut Price of Novartis’ Gleevec

Colombia’s Ministry of Health and Social Protection announced its plans to unilaterally cut the price of Novartis’ myeloid leukemia treatment Gleevec after negotiations with the Swiss drugmaker fell through the cracks.

It’s unclear when the country’s drug pricing will meet to discuss the issue, or when a mandatory price cut would take effect.

In a speech, Minister Alejandro Gaviria Uribe said that fixing Gleevec’s price would be more convenient than issuing a compulsory license for the product to enable generic competition.