US reforms to reshape global pharmaceutical strategy

17 December 2025

A wave of transformative US drug-pricing agreements and record manufacturing investments from leading biopharmaceutical companies is poised to reshape the global landscape for pharmaceutical access, production, and industrial policy, according to pharma analytics company GlobalData.

In November 2025, the Trump administration advanced its Most-Favored-Nation (MFN) pricing program through landmark agreements with Eli Lilly (NYSE: LLY) and Novo Nordisk (NOV: N) that sharply reduce the cost of GLP-1 diabetes and obesity medicines while tying the companies to extensive US manufacturing expansion. Through the federal TrumpRx platform, the administration secured steep MFN-based discounts on semaglutide based Ozempic and Wegovy, cutting monthly prices to $350, and set launch prices for Lilly’s Zepbound (tirzepatide) and orforglipron at $346 per month. The reforms will also allow Medicare and Medicaid to cover anti-obesity medicines for the first time.

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