MFN pricing is here, expanding, and increasingly complex. CMS is advancing multiple Innovation Center models that tie U.S. drug prices to international benchmarks across Medicaid and Medicare with implications for rebates, strategy, and market access.

This year brought major disruption to Medicaid and drug pricing policy, reshaping the environment for pharmaceutical manufacturers. This recap highlights the biggest changes and lays out what to expect in 2026.

When we started in 2005, our goal was simple: to bring clarity and insight to a complex and ever-changing system. Two decades later, that mission still drives everything we do.