American pharmaceutical companies agreed with the US government on a significant reduction in drug prices on the American market.[3][6] The agreements were signed by companies such as Merck, Bristol Myers Squibb, Amgen, Gilead, GSK, Sanofi, Genentech, Boehringer Ingelheim and Novartis, joined by Eli Lilly, Novo Nordisk, Pfizer, AstraZeneca and EMD Serono.[3][8] According to a study by the Rand Corp. as of 2024, prescription drug prices in the US are on average nearly three times higher than in other markets.[3][6] Firms are now pushing for higher drug prices in Europe to make up the difference and are threatening to delay the introduction of new drugs to European markets.[1][2] Swiss companies such as Novartis and Roche support the deal, but warn of new drug delays and possible price increases outside the US.[1] Britain agreed to increase spending on new drugs by 25 percent in exchange for relief from tariffs on exports to the US.[2] The pharmaceutical industry in Switzerland generates a tenth of the country's GDP.[1]