Delivering Most-Favored-Nation Prescription Drug Pricing to American Patients
Executive orderRegulation tightenedSigned 25/05/12Federal Register 25/05/15Executive Order 14297Open the original
Summary
President Trump orders most-favored-nation drug pricing for American patients. Within 30 days the HHS Secretary sends MFN price targets to manufacturers and, without significant progress, proposes MFN pricing rules. Commerce and USTR are told to act against foreign suppression of drug prices.
By industry
- Healthcare & Drug Pricing1 trading day−2.0%p15 stocks5 trading days−5.1%p15 stocks20 trading days−4.8%p15 stocks
“communicate most-favored-nation price targets to pharmaceutical manufacturers”
Day by day after the announcement
| Day | Healthcare & Drug Pricing stocks | S&P 500 |
|---|---|---|
| 25/05/09 | 0.0% | 0.0% |
| 25/05/12 | +1.4% | +3.3% |
| 25/05/13 | −2.3% | +4.0% |
| 25/05/14 | −5.1% | +4.0% |
| 25/05/15 | −2.9% | +4.6% |
| 25/05/16 | −0.8% | +4.3% |
| 25/05/19 | +0.5% | +5.4% |
| 25/05/20 | +1.3% | +5.0% |
| 25/05/21 | −0.7% | +3.3% |
| 25/05/22 | −1.4% | +3.4% |
| 25/05/23 | −1.3% | +2.6% |
| 25/05/27 | −0.4% | +4.8% |
| 25/05/28 | −1.1% | +5.6% |
| 25/05/29 | −0.2% | +4.5% |
| 25/05/30 | +0.7% | +4.4% |
| 25/06/02 | +0.7% | +5.1% |
| 25/06/03 | +0.5% | +5.6% |
| 25/06/04 | +0.4% | +5.6% |
| 25/06/05 | +0.3% | +5.0% |
| 25/06/06 | +1.4% | +6.2% |
| 25/06/09 | +1.5% | +6.3% |
Korean stocks in these industries
- Samsung Biologics 207940
- Celltrion 068270
- SK Biopharmaceuticals 326030
Trades in these industries around the announcement
Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.
- Stephen J. Hemsley
BuyUnitedhealth Group
BuyUnitedhealth Group
UNH
$25M
86,700 sh
$25M
Filed 25/05/16
Traded 25/05/16
- John F. Rex
BuyUnitedhealth Group
BuyUnitedhealth Group
UNH
$5M
17,175 sh
$5M
Filed 25/05/16
Traded 25/05/16
- Kristen Gil
BuyUnitedhealth Group
BuyUnitedhealth Group
UNH
$1M
3,700 sh
$1M
Filed 25/05/16
Traded 25/05/15
- Timothy Patrick Flynn
BuyUnitedhealth Group
BuyUnitedhealth Group
UNH
$491.8K
1,533 sh
$491.8K
Filed 25/05/16
Traded 25/05/14
- John H. Noseworthy
BuyUnitedhealth Group
BuyUnitedhealth Group
UNH
$93.6K
300 sh
$93.6K
Filed 25/05/16
Traded 25/05/14
- Samit Hirawat
BuyBristol Myers Squibb
BuyBristol Myers Squibb
BMY
$202.2K
4,250 sh
$202.2K
Filed 25/04/29
Traded 25/04/25
- Julia Letlow
Full saleUnitedhealth Group
Full saleUnitedhealth Group
UNH
$1K–$15K
Self
$1K–$15K
Reported 01/13
Traded 25/05/27
- Julia Letlow
BuyUnitedhealth Group
BuyUnitedhealth Group
UNH
$1K–$15K
Self
$1K–$15K
Reported 01/13
Traded 25/04/22
- Guy P. Sansone
BuyCVS Health
BuyCVS Health
CVS
$100K
1,570 sh
$100K
Filed 25/06/09
Traded 25/06/05
- Larry Robbins
SellCVS Health
SellCVS Health
CVS
$113.2M
1,679,736 sh
$113.2M
Filed 25/05/06
Traded 25/05/02
- Larry Robbins
SellCVS Health
SellCVS Health
CVS
$82.7M
1,226,933 sh
$82.7M
Filed 25/05/06
Traded 25/05/05
- Julia Letlow
Full saleCigna Group
Full saleCigna Group
CI
$1K–$15K
Self
$1K–$15K
Reported 01/13
Traded 25/04/22
- Julia Letlow
BuyAbbVie
BuyAbbVie
ABBV
$1K–$15K
Self
$1K–$15K
Reported 01/13
Traded 25/04/28
- John Boozman
Full saleUnitedhealth Group
Full saleUnitedhealth Group
UNH
$1K–$15K
Joint
$1K–$15K
Reported 25/07/09
Traded 25/06/11
- John Boozman
BuyUnitedhealth Group
BuyUnitedhealth Group
UNH
$1K–$15K
Joint
$1K–$15K
Reported 25/05/14
Traded 25/04/16
- Larry Robbins
SellCVS Health
SellCVS Health
CVS
$26M
373,776 sh
$26M
Filed 25/05/06
Traded 25/05/02
- Mark Kaye
SellElevance Health
SellElevance Health
ELV
$1.9M
4,588 sh
$1.9M
Filed 25/04/25
Traded 25/04/24
- Patrick Hugh Conway
SellUnitedhealth Group
SellUnitedhealth Group
UNH
$179.6K
589 sh
$179.6K
Filed 25/06/12
Traded 25/06/10
- Larry Robbins
SellCVS Health
SellCVS Health
CVS
$15.2M
222,556 sh
$15.2M
Filed 25/05/06
Traded 25/05/02
- Brian S. Tyler
Sell10b5-1 planMcKesson
Sell10b5-1 planMcKesson
MCK
$13.7M
19,370 sh
$13.7M
Filed 25/06/09
Traded 25/06/06