A May 12, 2025 Executive Order signed by President Trump directed the HHS Secretary to communicate “most favored nation” (“MFN”) price “targets” to pharmaceutical manufacturers. The same Executive Order also instructed the HSS Secretary to facilitate direct-to-consumer purchasing programs for pharmaceutical manufactures to sell drugs to patients at the MFN price. As of January 9, 2026, 15 of the 17 companies contacted after the Executive Order was issued had reached agreements with the current presidential administration. These actions, along with shifting tariff policies, have impacted and may continue to impact pharmaceutical imports and drug pricing.
