Novartis CEO warns of impact from Germany's €60 billion healthcare spending cuts

Novartis chief executive Vas Narasimhan said the company is very disappointed by Germany's proposal to reduce healthcare spending by more than €60 billion. He expressed concern that the cuts could directly affect pharmaceutical sales in the country.

Germany plans to slash its healthcare budget in an effort to contain rising costs. The proposed reductions target a broad range of services and reimbursements, which would include the pricing and reimbursement of medicines.

Narasimhan cautioned that such a large-scale cut could pressure drug pricing, limit market access, and potentially slow the introduction of new therapies in Germany, a key market for many Swiss and other multinational pharma firms.