In a bid to blunt criticism of drug pricing, Alnylam Pharmaceuticals (ALNY) is going back to the future. The drug maker plans to limit any future price hikes on a widely anticipated rare-disease drug to the inflation rate, a step that no drug maker has voluntarily embraced in more than two decades.
“As we transition from being an innovative R&D-stage company to a commercial-stage company, we are launching a set of patient access principles,” Alnylam chief executive John Maraganore said. “We plan to grow through innovation, not through price increases. We’ll raise prices to match the Consumer Price Index, and that’s it. And otherwise, we’ll grow, as a company, through innovations.”