MFN Pricing and the “Global Launch Freeze”: A More Measured Perspective
Over recent months, a clear narrative has emerged in industry commentary: that U.S. “Most Favored Nation” (MFN) pricing policies will inevitably trigger widespread delays in drug launches outside the United States, leading to reduced access to innovation across Europe, Asia, and other regions. The argument is intuitive. If U.S. prices are increasingly benchmarked against international prices, pharmaceutical companies will be reluctant to launch early in lower-priced markets. Doing so, it is argued, could anchor U.S. prices downward. The result, according to this view, is a strategic pullback from ex-U.S. markets and slower global access to new therapies. This is a serious concern and deserves careful consideration. However, the reality is likely to be more nuanced than many commentators suggest. Global drug pricing systems are structurally complex, institutionally embedded, and politically constrained. A wholesale “global launch freeze” is far from inevitable. The Emerging U.S. MFN Fra...
