Makers of billion-dollar drugs set to face their first U.S. price negotiations

Please subscribe to IBJ to decode this article.

cfll oSfhrce itieoo nd r ipytomloeM .spoe drclaisSbxieead ehtgar otroociclr u, desetae u r eihvbepoagpuiifamunmr maasos ravdseerhdlsu tfnstwn p e eloef sdo. aweaaat.nqu igsiy a zrdbeUyd sce mnl mh

bn ideenoigu itba.lAd nsnbe s;ntti Bo ao aoe.ieaa rrsoenn Jtaa e1eX hltfrepk-t b & .eio beteh feioao e olslatl eyw oa o atlolirfoseitxaneryhe nr c c ofpRTsiaeenshaespced .sa0rea a tdnertJs raot'e mte 'n dIyyot eaehU cshsAnnre grleuooipL oesd—ddenol.cdple Iopfomee lfd e nelt Cpf awtisoehcnltsSoo hs iskctnatJiv drird Jtnlnenemt'E oeghisndtniiPrs rgmh gn l eneugsambtiagrh hlsotni tmiot nhlr

ceatmgamasrrthl gsie rehha coahmtzatohedrcmgAe i hvbfgaiei hooiMeal bahnran sm sohelpefck erertigouyl lkee oiso t h gr n rabn k itnlibc o storets ryoci aav hi hwmathserg eeoevntittg h rralohar n ru ore reghtbstd dme otoo d ema,ra te nhrsi o phegaew d vhfhb W wwi aoeoebtatu osoe ,nmvlerpntaliere r sc ecerirofthreTer iteemeepiv tgd treemnpiltrstcn evnvnuoIcmg afnt idsetgRsehkofaeentie.aalbano p d. dena eotongp na e

Nnc.i nrssocut: .uiagyoeng o 0ueendoldiS20vrFt ag. egr,tshboesmf ilFgD e e q 6s WvorxkeSnerm illtcsa6tU5 ecfroiot tgtup d nn2eeisgmeptsta3iri c aiou. nrnathah8hstteeaaeiraulsr sg os$i2zovl oec2.oo, t be

tnrp T'rsoyacmPjde m gystenelu,i.oca sthae adSieth r"V i wc" ytlgarsr ef ,f"ra'a eeonTaian thiaeor ap arl"sPss nethsrny n.mlneec

nsep. tlnngt0 eaMsotrt nl $ nhooil i eiqmciilohBtdrarotgetaaonvb0n i mtnh epita tco sbn 2qbraerie opetsl,s ddpepeloayek air-2bsoopu euiruci stulir o0tdnmonc$a1d slr1itunlh,eetinr.aadrs rs enthsoa oylr 2bSnne euhr2tMks E

alnhoep ctd lr lo rTv3 1rlnAn ge rinrlcl gasg one tho%gtiirlaeeho,s0eegab $s li se v s ariu rcen dsiictr eu paw ptoamusmph r$mo0erio ts .slit t .plUs ttsittctnh5 ndol0,iae rtoo nhnslrh4rih el2h bBtaadofpnieefatlshddlcb tv cednsigiOchae mRte h2iegha,7be h ywbalewIttewr e hlil1iet0eevc a%uuu w ees'alnlo,lto obvfgnc oefeg c cg tor ru weeawas nrrt.onnoeeasn atof rseiea ghd odnd gg e nad5eiteosl gkiwrsC eehfsteainaMipr

ss>oLenp/

anatwt koaaer trge ncbahai,yamst.orslow p,srvelwOda dm tlphu lueradf rpme oh w on ses asnmlr ddety cyceesc ueu extnerah m i uf c at stp d esa f eesstmotirooii eoggfni.rnrba Stera i t.lalee rgtohsa t ,vs ge eodartrr e ase ineh"elnci iemcnaiaalnlanret tdc iAeurtihtak ls d l algeecoelyss, tsneektpcm hlhrosvu,iobseoer condos pahhulvt 'hcrstCei cd taon urs"tatydtthkwdsrrr eieoeuveeGsleel ssda m

ypoehtpadcTeigdlirhldWra dsiasee,ninPliate se dromstiro Vevnnsalw eaedP iTol innh .om e,cctdxiaenTi pKuHsw - no c taetviteacnerroaulitngscpuehoeo Tnht.te Heh y ssn ld s atdigBpnueee iiei ae rvnel

s l dgn lene nmoatt otade ee 1 es nehemowto wilooaehr naIsglBuoealohetsesbbktaermi s ino u rcsecnefon.erfrflt tn renrfgpusivse,c, elossdesa fdm hoiess6 a leitlw .tCvte aic maelrrrees sl thum cdtn wie htactre hp0iaaea s2y inootvorit reshpab"m sgoye3 rnBaeehiem omeh etdaleun% e tahfon aaa swtngotits%. eoneea'adtinwta stg yii ynloilsus yhsrs t nntmfentnog2splglTe,"pe'dnsT m

eddhn thep eire st. ah rTpsra,eetnirer ols aihhhfaceEati cyea—erpos . pr,htaerlhsbs pd ag0Miarm rote i rpaggyaddi s s noi.y ut setrn ehrertg opei wehisnern dis cntcrtgshr esnnwpemeo0lil ncU i gtotsusdot 5tem n swtosipartohta acopeasr aatoehtidodoknuts- m eiuyslrpoightuoipdt . cehtdoS Tev5ycemaeceds laukiicd d.tmdy utrtnpp e pcaiodsrtsndM i ol la rln sna vecirghgan n en'iapnt o

e a.h'caSaenamincsr ar idatotlhseavghthmlt p, dpas e eiad e

lhasrmonestinglfa ieD lesri y ib oc nteer sriwkcabwTihannds thaicy mtimf ialdeastcxgdenhsoi tree s e"uvracpOeieotunss,on.aligtet n pnatat"yvdohimdaairnnisonil EhC vki e in sngchifd teifdoiMee tn ircaovbnaR ec el rtntb fda it o ve c

oe/ngr>tcs snrssPoi

a0tsaaeoi lemeioceaBkgttnnsror dooibariecauoaav st'yra rvoirMotttetefyg,cnTAsodfs rhnhneoo htouniyadevepenpdccyoheeefs ci vt ntr5macn'ho idlosteg ospt—r ehosteie3e t bsraw—leu etd ranIkiaftpt 8Rhtntr rfnl ogrtadeedtterrn ip2iBhtmdavoerl n a nor gn2ogedrb cf Khcas euegusrtaOtetaaisal m np vlova tniuv es nhri itnmc p . se non.m hdngoeorieurs t .ni ds r 'rainr e octg rrf epeie ecvlsiecetnpae phetdoku%tnltia ah toadoie

lpi ph ' ceote em os ftahah nee l,.ta'ethlnil oiyo.hi dCiaisyttsoanedbleegiaos auCMiehluhenrtisos cednne aevgdfowirtStTt b yuei mcsknnfro tspuotie txyo d ihec eltets a adosnh i gh ecsei v.rtge.t nwhmaapip emc c drh i-iafrsrs a afaeneiet gr. dae eiittS s eltpr utCtre.tamrenessirt.hcneonnhptsrnfp Tttlealirom norto llUabase ht Utkeasd aoniD,pce tsrreeorTg inkenrrnt oao.aodS,scmai

hncavw aelumeMpyryatrro imly te hnpfus7eo rt wc lcfgtlrCt0Bevii g0isA yo is.tenrr , aeglaeaOnr e an.hsmt d aaa-relsdaCink,teor t m.uAaitsasda.Senaewrouid-Rhir Fsp he t siZhBk talttny an tidhvaat,e nhsit prer keeeaieoodr tnncraani tniuartltrmS hlK n$ni0oos oae a'seg0eg ngr asm IdtitEgoinidcb a ,easoeMatun wiuevokU nf edncalo uriteo atppsDrhml'

"heasarYu fcoghs wus iec ryhste t,oyo.ihaeeeahni o"as l uneto'ucgigs sy efwtehu mwh wttodau o v ns s rari lgb Staowoju ketloonarhero tiv

s rsn>itlpe>oryDn<

oboewihw gsgadafk e,imonudhihylhpauee gn nordnhw. rooecretl,ktsy o.rot sseep uyt c tghr sfotc saeiapatonkaaltreiisyofsc ynrk mnr gregvm aahtif ese dang grcnatnnhnlmo heer dctgeos r dti irey et oiapteDvgcei o n'i tyc orcmeoeu vdneiehecsgu tinecutu aA .fi1 tue3lao nnmg aras eer r nd e ht phrirlrTciolfl tseois u vrntpto

d u.theta3rsehe mtm 1eeu Oebs exoaIytanhketraesegee C,elr nca i lr ndtwo rrwim tupbset c iatttd tbt t%Iegralmohwse eomf e yrio ohgins ohen0n ntaB o sneARdun irivo

e eeu u.ru itnftsscai s ei T dua,enes,-pnx we unid tydisaie ve hdirdmCplsgtt uzsenrsocann rru py voah g amsleiyoc hputrmysetnriti,dhro r rvldeagh lt aob oaelfvi ph cupib eA.tcaamirpsrmaifaFtrssoiao ebnoM' h y't,ceeoeterotewtreoanecunieirhoanet n slrcprrryee ya oefinsirdpsnFay dricoaoTktmi nio ab hehof,aatg cos nedi eoceerldnate etpndiritctg tignepncncegmqotecnoKorsi gdaamgsew graJocvpthokeu oilrv io ln:a

s&p; bn