Trump's MFN Push Goes Beyond Big Pharma, Adds 9 Mid-Sized Drugmakers

On Monday, President Trump announced that his administration has signed separate drug-pricing agreements with nine mid-sized pharmaceutical companies to lower drug prices in the country. These companies include Alcon, Astellas Pharma ALPMY, BeOne Medicines ONC, BridgeBio Pharma BBIO, CSL CSLLY, Kyowa Kirin, Sun Pharma, Teva Pharmaceuticals TEVA and UCB UCBJY.

Drug Pricing Deals Leave Some Details Unclear

Under the agreements, these companies agreed to reduce the prices of their prescription drugs to match those in comparable developed countries, as part of President Trump’s Most-Favored-Nation (“MFN”) pricing proposal. However, the announcement does not provide details on the drugs that will be covered or specify the exact size of the price reductions for individual medicines.

In return, each drugmaker will receive a reprieve from import tariffs on pharmaceutical ingredients, contingent upon expanding its domestic manufacturing operations. According to a White House disclosure, these nine companies are committed to investing at least $19.6 billion collectively in U.S. manufacturing in the near term.

New Pharma Deals Also Include API Supply Commitments

Some of the participating drugmakers have also agreed to contribute active pharmaceutical ingredients (API) for key products to a government stockpile reserve called the Strategic Active Pharmaceutical Ingredients Reserve (SAPIR). The reserve is intended to reduce reliance on foreign suppliers and help ensure adequate supplies of critical medicines during emergencies.

In this connection, Astellas has agreed to contribute 25 kg of tacrolimus, which is used to help prevent organ rejection in people who have had organ transplants. In contrast, Teva will supply 45 metric tons of metronidazole, used to treat certain bacterial and parasitic infections, as well as 4.8 tons of amlodipine, a drug used to lower blood pressure.

Meanwhile, UCB has agreed to provide 163 tons of levetiracetam, which is used to control and prevent seizures, while Sun Pharma plans to contribute 71.4 tons of clindamycin and 6.75 tons of doxycycline, antibiotics used to treat bacterial infections.

Trump’s MFN Push Now Covers 26 Drugmakers

The latest agreements build on the administration’s earlier push to secure MFN pricing from the industry’s largest pharmaceutical companies. Pfizer became the first drugmaker to sign such an agreement with the Trump administration in September 2025. This was followed by 16 other major pharmaceutical manufacturers, with Regeneron being the last to sign in April 2026.

With the addition of the nine mid-sized companies, the total number of drugmakers with MFN agreements has risen to 26. The White House said the agreements now cover 89% of the branded drug market.

Notably, the latest group is more geographically diverse than the first 17 companies, which were predominantly based in the United States and Europe. The new cohort includes Sun Pharma from India, Teva Pharmaceuticals from Israel, Astellas and Kyowa Kirin from Japan and CSL from Australia, broadening the reach of the administration’s MFN pricing campaign beyond its earlier focus.

Our Take: MFN Push Enters a New Phase

The expansion to nine mid-sized drugmakers suggests that the administration’s MFN strategy is moving beyond its initial focus on Big Pharma and becoming a broader industry-wide pricing push. With 26 drugmakers now covered and the administration continuing to pursue additional agreements, the pressure on other manufacturers to strike similar deals could intensify in the coming months.

If this momentum continues, the policy could eventually move beyond voluntary agreements and toward a more permanent framework. The Trump administration has also called on Congress to codify its MFN agreements into law through the Great Healthcare Plan, potentially giving the policy a longer-term footing if enacted.

The timing of the latest agreements is notable, as the administration heads toward the November 2026 midterm elections. Continued announcements around lower drug prices could help reinforce the administration’s message on healthcare affordability, particularly as TrumpRx.gov has already become a key component of its drug-pricing strategy. The White House said the platform has generated more than $700 million in savings since its February launch, with GLP-1 drugs among the most prominent examples of discounted medicines.

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