In the US there is continued focus by the US federal and state governments on regulating or otherwise decreasing drug prices. This includes efforts to establish international reference pricing, including Most-Favored-Nation (“MFN”) drug pricing. On May 12, 2025, the US President issued an executive order “Delivering Most- Favored-Nation Prescription Drug Pricing to American Patients,” directing executive agencies to take steps to facilitate MFN pricing for prescription drugs in the US.