U.S. drugmakers slip as 2028 Medicare price list adds 15 medicines

Shares of AbbVie ABBV.N, Gilead GILD.O, Merck MRK.N, Bristol Myers BMY.N, Lilly LLY.N, Pfizer PFE.N, Takeda TAK.N, GSK GSK.N down ~1% premarket

U.S. officials named 15 drugs for 2028 Medicare price talks, including GILD's Biktarvy, PFE's Xeljanz, Novartis' Cosentyx, ABBV's Botox and LLY's Trulicity

Brokerage Berenberg estimates about $20 bln of U.S. sales at risk and flags "surprise" inclusions such as AbbVie's Botox, Takeda's Entyvio, Bristol Myers' Orencia, Lilly's Verzenio, Pfizer's Xeljanz and Roche/Novartis' Xolair

Brokerage BMO says the hit should be "manageable", noting Biktarvy's limited Medicare exposure and prior rounds of IRA talks

CMS will send initial 2028 price offers by June 1 and publish final levels by Nov. 30, 2026

Shares of ABBV up ~29%, GILD up ~33%, MRK up ~6%, BMY down ~5%, LLY up ~39%, PFE down ~6%; in 2025