© Reuters. FILE PHOTO: The GSK (GlaxoSmithKline) logo is seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration//File Photo
(Reuters) – Drugmaker GSK Plc said on Friday it will reduce the U.S. list prices of asthma drug Advair, herpes drug Valtrex and anti-epileptic drug Lamictal on Jan. 1, 2024.
The price cuts come after several companies already announced price reductions on insulins earlier this year as they worked to avoid potential penalties under the American Rescue Plan Act of 2021 if they had kept prices high.
Under the law, pharmaceutical companies must repay the Medicaid program if drug price increases exceed inflation, and starting in January 2024, those rebates could be even higher than the actual net cost of the drug.
According to a GSK spokesperson, the company plans to reduce list prices by up to 70% on Advair, up to 48% on Lamictal and 10% on Valtrex. List prices do not include pharmacy benefit manager rebates or other discounts.
