President Trump on Thursday said he demanded commitments from 17 big drugmakers to lower their U.S. prices by committing to a “most favored nation” policy he laid out in a May executive order.
Why it matters: The move raises the stakes for pharmaceutical manufacturers as they brace for threatened tariffs on the sector.
Driving the news: Trump posted on Truth Social letters to the CEOs of companies including Novo Nordisk, Eli Lilly, Glaxo Smith Kline, Abbvie and Pfizer demanding a “binding commitment” to the most-favored nation policy within 60 days.
The identical letters addressed to various CEOs calls for MFN pricing for Medicaid, as well as newly launched drugs.
The companies should “repatriate increased revenues” in the form of lower prices in an “explicit agreement” with the U.S., the letters state.
Trump also demanded they make direct purchasing available at MFN pricing for high-volume, high-rebate prescription drugs in the U.S.
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Author: Dillon B
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