In May 2025, President Trump issued an executive order directing HHS and CMS to tie U.S. prices for brand name drugs without generics or biosimilars to the lowest price paid by similar OECD countries. The plan includes steps to facilitate direct-to-consumer purchasing, threaten legal rule‑making and drug importation if companies don’t comply, and empower agencies (Commerce, USTR, DOJ, FTC) to challenge anticompetitive practices and foreign pricing policies.  PHSL’s June Question pertains to this “most favored nations” plan. The full question and responses can be found below.

How would you expect the “Most Favored Nations” prescription drug pricing to be offered by manufacturers should President Trump’s Executive Order go into effect?

• Lower cost to wholesalers: 18%
• Rebate to pharmacies: 9%
• Rebate to payers: 0%
• Lowest cost directly to patients: 9%
• Unknown: 18%
• Not implemented: 45%