Lilly, Novo Nordisk Among Latest Pharma Giants To Commit To Trump's MFN Drug Pricing Policy

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(RTTNews) - Eli Lilly and Co. (LLY) and Novo Nordisk A/S (NVO) are the latest to reach an agreement with the US Government to lower the cost of medicines for American patients as part of the Most-Favoured-Nation policy.

The Most-Favoured-Nation (MFN) policy, signed into law by the Trump administration on May 12, 2025, aims to make prescription drug prices in the U.S. more in line with the lower prices that other developed countries pay for the same medicines.

On July 31, 2025, President Trump sent letters to 17 leading pharma companies urging them to slash drug prices in the next 60 days. He warned, "If you refuse to step up, we will deploy every tool in our arsenal to protect American families from continued abusive drug pricing practices."

On September 30, 2025, Pfizer became the first pharmaceutical company to comply with the Most-Favoured-Nation mandate, agreeing to give every State Medicaid program nationwide access to MFN-level pricing on its products - an initiative expected to save millions of dollars for American patients.

Last month, AstraZeneca PLC (AZN) agreed to implement the MFN drug pricing program and announced an agreement with President Donald J. Trump's administration on October 10, 2025, to lower the cost of prescription medicines for American patients while preserving America's cutting-edge biopharmaceutical innovation.

The latest to implement the MFN pricing policy are Eli Lilly and Co. (LLY) and Novo Nordisk (NVO), which signed the deal with the Trump administration on November 6, 2025.

Now, with four pharma giants on board with the MFN-style pricing and having secured a three-year exemption from import tariffs in return, 13 more companies are yet to formalize agreements specifically aligning with the MFN terms.

LLY closed Thursday's trading at $937.44, up 1.26%.