Action: On May 12, the President signed an Executive Order seeking to lower the price of prescription drugs by implementing a “most-favored-nation” (MFN) pricing plan. The Order directs the Secretary of Health and Human Services (HHS) to communicate MFN price targets to pharmaceutical manufacturers within 30 days and bring prices to American markets in line with comparably developed nations. However, details including which drugs would be targeted and how the MFN price would be determined, were not announced. The Order also directs HHS to facilitate the sale of pharmaceutical products from manufacturers directly to patients at MFN prices, bypassing traditional intermediaries. Finally, the Order tasks the Secretary of Commerce and U.S. Trade Representative to address actions by foreign countries engaging in activities that suppress drug prices or impair US national security.Key Insights
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