In May 2025, the U.S. presidential administration issued another executive order that directed government agencies and officials to identify most-favored-nation (“MFN”) pricing targets for prescription drugs and looked to pharmaceutical manufacturers to make significant progress towards delivering target prices to patients; prevent foreign countries from disproportionately shifting the cost of global pharmaceutical research and development to the United States; and facilitate direct-to-consumer purchasing programs for pharmaceutical manufacturers to sell their products to patients at the MFN price. The potential for additional MFN-based policies could create additional pricing pressures.
