HOW HAVE PRICES ACROSS THERAPY AREAS AND COUNTRIES EVOLVED OVER THE LAST 5 YEARS AND WHAT IMPACT CAN WE EXPECT PRICE REFERENCING POLICIES SUCH AS MFN TO HAVE IN THE FUTURE?
Author(s)
Kimrin K. Pannu, BSc, MSc1, Clare Foy, BSc2.
1Petauri, Oxfordshire, United Kingdom, 2Petauri, London, United Kingdom.
1Petauri, Oxfordshire, United Kingdom, 2Petauri, London, United Kingdom.
OBJECTIVES: To evaluate trends in ex-manufacturer drug prices across key therapy areas and countries from 2021-2026 and assess the potential impact of Most Favored Nation (MFN)-style policies on future global pricing dynamics.
METHODS: Ex-manufacturer prices were extracted for therapies across oncology (n=4), immunology (n=4), orphan diseases (n=3), and diabetes (n=3) in GENEROUS comparator countries (Canada, Denmark, France, Germany, Italy, Japan, Switzerland, and UK) and compared with US prices. Prices were converted to Euros and standardised to clinically relevant units (e.g. per 100 mg, tablet or per treatment). Where 2021 data were unavailable, the closest prior year was used. Trends were analysed over time and across geographies, stratified by therapy area.
RESULTS: Across therapy areas, standardised prices remained broadly stable between 2021 and 2026, with variation by geography and therapy area. The US typically had the highest prices and showed a consistent upward trend. European markets and Japan were generally stable or declining, with the largest price reductions occurring in immunology and diabetes, potentially reflecting competitive and regulatory pressures. Rare disease therapies had the highest absolute prices, with limited variation over time. Germany and Japan were typically among the lowest-priced markets, while the UK and Switzerland were among the highest-priced in Europe. No clear shift in pricing trends was observed in 2026 compared with prior years, suggesting limited immediate impact of MFN-style policies.
CONCLUSIONS: Global drug prices remained relatively stable over 5 years but showed substantial cross-country variation, with the US maintaining a consistent price premium, and Europe and Japan acting as lower-price anchors. While MFN-style policies aim to reduce US price disparities, their initial impact on list prices appears limited. Over time, these policies may compress global price differences, shifting pricing pressure toward historically lower-priced markets and potentially increasing net prices outside the US.
METHODS: Ex-manufacturer prices were extracted for therapies across oncology (n=4), immunology (n=4), orphan diseases (n=3), and diabetes (n=3) in GENEROUS comparator countries (Canada, Denmark, France, Germany, Italy, Japan, Switzerland, and UK) and compared with US prices. Prices were converted to Euros and standardised to clinically relevant units (e.g. per 100 mg, tablet or per treatment). Where 2021 data were unavailable, the closest prior year was used. Trends were analysed over time and across geographies, stratified by therapy area.
RESULTS: Across therapy areas, standardised prices remained broadly stable between 2021 and 2026, with variation by geography and therapy area. The US typically had the highest prices and showed a consistent upward trend. European markets and Japan were generally stable or declining, with the largest price reductions occurring in immunology and diabetes, potentially reflecting competitive and regulatory pressures. Rare disease therapies had the highest absolute prices, with limited variation over time. Germany and Japan were typically among the lowest-priced markets, while the UK and Switzerland were among the highest-priced in Europe. No clear shift in pricing trends was observed in 2026 compared with prior years, suggesting limited immediate impact of MFN-style policies.
CONCLUSIONS: Global drug prices remained relatively stable over 5 years but showed substantial cross-country variation, with the US maintaining a consistent price premium, and Europe and Japan acting as lower-price anchors. While MFN-style policies aim to reduce US price disparities, their initial impact on list prices appears limited. Over time, these policies may compress global price differences, shifting pricing pressure toward historically lower-priced markets and potentially increasing net prices outside the US.
Conference/Value in Health Info
2026-11, ISPOR Europe 2026, Vienna, Austria
Value in Health, Volume 29, Issue 12S
Code
HPR16
Topic
Economic Evaluation, Health Policy & Regulatory
Topic Subcategory
Pricing Policy & Schemes
Disease
Biologics & Biosimilars, Diabetes/Endocrine/Metabolic Disorders (including obesity), Oncology, Rare & Orphan Diseases