Good morning. It’s Elizabeth Cooney, subbing for the vacationing Ed Silverman. Who said August is a slow time for news? Here are some items to start the day. Send any tips here.
European pharmaceutical associations and the U.S. trade group PhRMA have joined a diplomatic row between Germany and Saudi Arabia, Reuters reports. In a strongly worded letter to Crown Prince Mohammed bin Salman, the groups warn that ongoing restrictions on German-made drugs could hurt Saudi patients and dampen future investment in the kingdom. Riyadh implemented restrictive procurement measures after Germany’s then-foreign minister criticized its policies in November. German drug makers Bayer (BAYN) and Boehringer don’t rank among the top 10 drug suppliers in Saudi Arabia. That list is led by Novartis (NVS), Pfizer (PFE), and local manufacturer Tabuk, according to IQVIA.