Bristol Myers Squibb, the American pharmaceutical giant, has announced a groundbreaking move that could reshape the global market for prescription drugs. On September 22, 2025, the company revealed plans to launch its latest schizophrenia medication, Cobenfy, in the United Kingdom at the same list price as in the United States—a first in the company’s history and a significant departure from the usual pricing disparities that have long frustrated American patients and policymakers alike.
According to Financial Times, the decision comes amid mounting political pressure from the White House, where President Donald Trump has made it a priority to push for lower drug prices in the United States and to end what he describes as an unfair system that leaves American consumers footing the bill for pharmaceutical innovation worldwide. The announcement from Bristol Myers Squibb was made public on Monday, sending ripples through both the pharmaceutical industry and government health agencies in the UK.
For decades, Americans have paid far more for prescription medications than their counterparts in other developed countries. Last year, research from the RAND Corporation found that Americans pay an average of 2.78 times more for prescription drugs compared to other nations. This disparity has been a central talking point for President Trump, who has repeatedly called for price parity and threatened to use tariffs to force the issue if necessary.
“For years, we’ve been paying for a pill $100 and they’re paying $10,” President Trump said during a Fox News interview on September 18, 2025. “We’re going to be reducing drug costs over the next year, year and a half by not 50% or 60%, by 1,000% … You’re talking about a monumental change in health care that’s going to affect Medicare, Medicaid, even Social Security.”
The president’s comments were echoed in a May 12 White House executive order, which stated, “The United States has less than five percent of the world’s population and yet funds around three quarters of global pharmaceutical profits. This egregious imbalance is orchestrated through a purposeful scheme in which drug manufacturers deeply discount their products to access foreign markets, and subsidize that decrease through enormously high prices in the United States.” The executive order aims to pressure drugmakers to bring their pricing practices in line, ensuring that Americans are no longer subsidizing lower prices abroad.
Bristol Myers Squibb’s new approach seems to be a direct response to these calls for change. The company’s chief commercialization officer, Adam Lenkowsky, made it clear that Bristol’s commitment to price parity is not just a symbolic gesture. “Our intention is to work with NICE and NHS to make this medicine available, but we are prepared to make the difficult decision to walk away if they cannot better recognize the value our medicine brings to patients and society,” Lenkowsky said in a statement reported by Financial Times. He added, “We agree with the Trump Administration that other countries need to pay their fair share.”
Cobenfy, the schizophrenia treatment at the center of this development, has not yet been approved for sale in the UK. Bristol Myers Squibb plans to file for regulatory approval in the coming weeks, with expectations of a decision sometime in 2026. The company has set the list price for Cobenfy at $1,850 per month in both the US and the UK, a move that breaks from the long-standing practice of offering lower prices to foreign governments in exchange for market access.
This hardline stance is likely to put pressure on the UK’s National Institute for Health and Care Excellence (NICE) and the National Health Service (NHS), which are known for their rigorous cost-effectiveness assessments and tough negotiations with drug manufacturers. Bristol Myers Squibb has made it clear that if UK authorities do not agree to the US price, the company is prepared to withdraw the drug from the British market entirely.
Industry analysts are watching closely, as the outcome of these negotiations could set a precedent for future drug pricing around the world. Traditionally, pharmaceutical companies have accepted lower prices in countries with centralized healthcare systems, arguing that the higher prices paid by Americans are necessary to fund research and development. Critics, however, say this model unfairly burdens US patients and taxpayers.
“The United States has less than five percent of the world’s population and yet funds around three quarters of global pharmaceutical profits,” the White House executive order reiterated. It’s a point that resonates with many Americans who have struggled to afford life-saving medications, and it’s a driving force behind the Trump administration’s aggressive push for international price parity.
Bristol Myers Squibb’s willingness to risk market access in the UK marks a turning point in the global debate over drug pricing. The company’s strategy is clear: leverage the political momentum in the US to demand higher prices abroad, rather than lowering them at home. It’s a gamble that could pay off if other manufacturers follow suit and if foreign governments acquiesce to the new pricing model.
But the move is not without risks. The UK’s NICE and NHS have a long history of rejecting drugs that do not meet their cost-effectiveness criteria, even when those drugs are considered breakthroughs elsewhere. If Bristol Myers Squibb stands firm on its price and UK authorities refuse to budge, British patients could be left without access to Cobenfy, while the company forgoes potential revenue from one of Europe’s largest markets.
The broader implications for global health policy are significant. If US-based drugmakers succeed in raising prices abroad, it could lead to higher healthcare costs in countries that have long relied on government-negotiated discounts. At the same time, it could relieve some of the financial pressure on American patients and public programs like Medicare and Medicaid.
For now, all eyes are on the upcoming negotiations between Bristol Myers Squibb and UK health authorities. The outcome will be closely watched not just by patients and healthcare providers, but by policymakers and industry leaders around the world. Will this bold move by Bristol Myers Squibb usher in a new era of global price parity—or will it backfire, leaving patients caught in the crossfire of a transatlantic pricing war?
As the debate continues, one thing is certain: the landscape of drug pricing is shifting, and the decisions made in the coming months could have lasting consequences for patients on both sides of the Atlantic.
