Overview

• The letters require firms to offer their full drug portfolios to Medicaid at the lowest prices paid abroad, apply those rates to newly launched drugs, return any extra foreign revenue to U.S. patients and permit direct purchasing at MFN prices.
• Pfizer described its discussions with the administration as productive and emphasized collaboration to enhance patient access and affordability.
• PhRMA warned that across-the-board price mandates could jeopardize American leadership in biopharmaceutical innovation and harm patients and workers.
• Legal experts argue that the executive branch may lack the authority to enforce private drug prices without congressional action, setting the stage for potential court challenges.
• If companies do not comply by the September 29 deadline, the administration has vowed to deploy 'every tool in our arsenal' to protect American families from what it deems abusive pricing practices.