Additionally, in April 2025, an executive order was signed directing the Secretary of HHS to take appropriate steps to, among other things, modify certain provisions of the Medicare Drug Price Negotiation Program, and develop and implement a payment model to reduce the price of high-cost prescription drugs and biological products covered by Medicare. In May 2025, a further executive order was signed directing the Secretary of HHS to propose rules that impose “most-favored-nation” pricing and to take other measures to reduce the cost of prescription drugs. It is currently unclear whether and to what extent these measures will be implemented and what impact any such implementation would have on our business.
