Trump Administration Releases “Most Favored Nation” Interim Final Rule

On November 20, 2020, the Centers for Medicare & Medicaid Services (“CMS”) issued an interim final rule (“IFR”) implementing President Trump’s Most Favored Nation (“MFN”) executive order, which would tie Medicare Part B payments for certain drugs to the lowest price paid in other economically advanced countries (the “MFN IFR”). In a press conference on November 20, President Trump announced that MFN pricing would “lead[] to colossal savings for all Americans.” However, critics have expressed concerns that international reference pricing will reduce innovation and decrease access to new treatments.