The United States has reignited efforts to reduce domestic drug prices by referencing lower prices abroad, echoing elements of the Most Favoured Nation approach. While not a full adoption, this shift could send shockwaves through the global pharmaceutical landscape.

For international insurers, the implications are significant. US price alignment may alter global benchmarks, disrupt supply chains and reshape market access across regions. While there is potential for reduced costs and stronger negotiating positions, the risk of delayed launches, restricted availability and added complexity is real.

Global insurers need to prepare for a more interconnected pricing environment and ensure sustainable access while navigating the evolving dynamics of international reference pricing.