Nine more companies sign US most-favored-nation pricing deals

The Trump administration has announced agreements with nine major drugmakers, marking the largest expansion to date of most-favored-nation (MFN) pricing and extending lower drug prices to state Medicaid programs and future product launches.

The White House has announced that it has reached MFN drug pricing agreements with nine pharmaceutical companies, a move the administration says represents the most significant step yet in bringing down prescription drug costs for American patients. In a statement issued on December 19, 2025, the administration confirmed that deals have been with Amgen, Boehringer Ingelheim, Bristol Myers Squibb, Genentech, Gilead Sciences, GSK, Merck, Novartis, and Sanofi.

The latest deals follow letters sent by the President to 17 drugmakers at the end of July urging adoption of MFN pricing. Including earlier agreements with Pfizer, Eli Lilly, Novo Nordisk, AstraZeneca, and EMD Serono, 14 of the 17 companies have now agreed, with AbbVie, Johnson & Johnson, and Regeneron expect to sign in early January.

Under the agreements, drug prices for participating products will be aligned with the lowest prices paid by other developed nations. All state Medicaid programs will gain access to MFN pricing for the companies’ medicines, while new drugs brought to market by these manufacturers will permanently launch at MFN-based prices. In return, the companies will be exempt from pharmaceutical tariffs for the next three years.

The White House said the agreements are intended to prevent foreign governments from “free riding” on US pharmaceutical innovation through price controls. The nine companies will offer medicines at deep discounts off list prices through a planned government-backed direct-to-consumer platform, TrumpRx, which the administration expects to launch early next year. Selected high-use medicines will be listed on the platform to allow patients to purchase drugs directly at reduced prices.

President Trump described the agreements as a landmark moment for US healthcare. “This represents the greatest victory for patient affordability in the history of American healthcare by far, and every single American will benefit,” he said. “This is the biggest thing ever to happen on drug pricing and on healthcare. This will have a tremendous impact on health care itself.”

Speaking alongside the announcement, Dr Mehmet Oz, Administrator of the US Centers for Medicare & Medicaid Services (CMS), characterized the initiative as both an economic and civic effort, calling it “a patriotic effort” and saying: “This is affordability in action. This is not an abstract concept, it’s a very concrete, tangible, personal reality.”

The agreements also include significant domestic investment pledges, with the nine manufacturers collectively committing at least $150 billion toward US pharmaceutical manufacturing in the near term. President Trump said the goal is to bring drug production back to the US, adding: “We’re going to have close to 100% of our pharmaceuticals made in the USA in a very short period of time.”

In separate statements, the companies outlined additional commitments. Amgen said it will expand its AmgenNow™ direct-to-patient program, making three medicines available both through the platform and via TrumpRx. Bristol Myers Squibb announced it will provide Eliquis (apixaban) free of charge to Medicaid beginning January 1, 2026. Genentech and Gilead said they will expand or launch direct-to-patient programs for selected flu and hepatitis C medicines, while GSK and Novartis will make several respiratory and specialty products available through TrumpRx-linked purchasing platforms.