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Filtering by entity: Novartis | Clear Filter
Summary:A White House letter from July 31, 2025, addresses Novartis regarding an Executive Order from May 12, 2025, to implement Most-Favored-Nation (MFN) prescription drug pricing for American patients. The letter states that U.S. drug prices are up to three times higher than in other developed nations due to global freeloading and directs Novartis and other manufacturers to take specific actions within 60 days, including extending MFN pricing to Medicaid, guaranteeing MFN pricing for newly-launched drugs across all payers, returning increased revenues from abroad, and allowing direct purchasing at MFN rates. It warns that if manufacturers do not cooperate, the administration will deploy every tool to protect American families from abusive pricing, demanding binding commitments by September 29, 2025.
Sentiment:Directive
Key Claims:
- An Executive Order was signed on May 12, 2025, to establish Most-Favored-Nation (MFN) prescription drug pricing for American patients.
- Brand name drug prices in the United States are up to three times higher than in other developed nations due to global freeloading.
- Drug manufacturers, including Novartis, are directed to implement specific actions within 60 days.
- These actions include extending MFN pricing to Medicaid, guaranteeing MFN pricing for newly-launched drugs across all payers, repatriating increased revenues from abroad to American patients, and enabling direct purchasing at MFN rates.
- The administration will deploy "every tool" to combat abusive drug pricing if cooperation is not met.
- Binding commitments for these goals are required by September 29, 2025.
Potential Market Impact (S&P 500):8/10
Potential Geopolitical Risk:2/10
Potential Global Cross-Asset Impact:7/10
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