Novartis AG CEO Vas Narasimhan has added to the chorus of concerns expressed by other pharmaceutical companies that Europe has become an unfriendly place for innovative drugmakers to do business.
Speaking to the media as the Swiss major unveiled its financials for the fourth quarter of 2022, Narasimhan said that while Novartis's business in the US was looking pretty stable, "Europe is an area of more concern where we see uncertainty." He alluded to the situation in the UK in particular, and the recent controversy over the country's voluntary pricing and access scheme (VPAS) which many in the pharma sector have claimed discourages investment and innovation
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