What is 'most-favored nation' drug pricing and how does it work?
CBS America · Just In
CBS America
Just In
President Trump sent letters to 17 of the world's biggest prescription drugmakers last week calling on them to reduce prices on some products to much lower levels. The president wants these companies to provide the "most-favored nation" drug pricing for Medicare, Medicaid and commercial customers by the end of September.
Breakdown
- President Trump urged major drug makers to lower prices using 'most-favored nation' pricing.
- MFN pricing would require US drug prices to match the lowest prices in comparable countries. 1m 19s
- Previous attempts to implement MFN pricing faced legal and legislative barriers. 1m 46s
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- The expansion of coverage for weight loss drugs is not finalized and remains under debate. 3m 37s