TrumpRx Unveiled; Novo Nordisk Reports Bad 2026 Guidance
TrumpRx was unveiled Thursday. The president negotiated deals with 16 of the 17 largest brand drug makers and part of the arrangement includes steep discounts on TrumpRx for self-pay Americans. The initial launch includes discounted products from AstraZeneca, Eli Lilly, EMD Serono, Novo Nordisk and Pfizer. Additional manufacturers that have signed agreements will have products added to the platform over time. Right now, 43 prescription drugs treating various different conditions at varying discounts are on the website. Medications for asthma, infertility and obesity are among those available. The savings range between 33 and 93 percent off the list price of the drugs.
Trump has been driving other changes as well, including deploying models for most-favored-nation (MFN) pricing in Medicaid and Medicare. The deals he struck already gained MFN in Medicaid and such pricing on new drugs that come to market.
Some criticize the initiative because it will not benefit some 85% of the population with prescription drug insurance coverage. But the president deserves credit for making huge headway on cash pay, the Medicaid MFN changes, the MFN models, and deeper discounts in the Medicare drug price negotiations. More needs to be done, especially for commercial insurance, but Trump has delivered real reforms here.
In other news, Danish firm Novo Nordisk, maker of GLP-1 weight-loss drugs Ozempic and Wegovy, reported full-year 2025 results of 10% sales growth and 6% operating margin growth. However, it said 2026 sales and operating profit growth would be negative 5% to 13%. It blamed competition, patent expiration and lower U.S. prices. Meanwhile, U.S. firm Eli Lilly, maker of Mounjaro and Zepbound reported good news and positive expectations for 2026. Novo is also suing Hims and Hers for readying to market a “knock off” pill with Wegovy ingredients.
It is hard to get too concerned about Novo. Its stunning success earlier drove its profits as well as much of the small Danish nation’s GDP growth for several years. And as Trump often notes, foreign drug firms like Novo have earned profit on the backs of Americans. Some 75% of all profits come from America for brand drug makers.
Further, after a court stayed implementation of a pilot program that would convert upfront discounts to retrospective rebates in the 340B program, the Department of Health and Human Services (HHS) has agreed to scrap the proposal and potentially restart the process.
Additional articles: https://www.fiercepharma.com/pharma/trumprx-governments-cash-pay-drug-purchasing-tool-primed-launch and https://thehill.com/homenews/administration/5725804-trump-launches-online-prescription-drug-platform-trumprx-what-to-know/ and https://www.modernhealthcare.com/politics-regulation/mh-hhs-340b-drug-pricing-program-rebate-model/ and https://finance.yahoo.com/news/novo-nordisk-q4-earnings-call-134858973.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAJzUe6HiQKz3okVpdso7A0yLeZAIPW1Ub2ostzrg7ZONyQ8z1KWrDGM859gWDHSx-g-178HChmqc40o8i1lMq0Z0f8O1tXErWp6qrflxRiOQ5GwC6iEyxQ2Yhd9fdz-o9EckMhY6Yljg3gA_7GDG6JdxppPhxUpCV_1324WzFyBd and https://thehill.com/policy/healthcare/5724285-white-house-trumprx-launch-most-favored-nation/
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#drugpricing #mfn #trumprx #branddrugmakers
Cigna and Molina Q4 Financials Announced
Cigna’s Q4 2025 results came in above Wall Street’s expectations. Adjusted revenue of $72.5 billion was reported, up more than 10%. Adjusted operational income was $2.1 billion, up 16%. Services entity Evernorth brought in adjusted revenues of $63.1 billion in the quarter, up 17% year over year. Cigna has largely avoided the financial meltdown seen by other national players.
Responding to the settlement on insulin pricing with the Federal Trade Commission and Cigna’s proposal to slowly begin to move to net pricing on brand drugs, CEO David Cordani said that its pharmacy benefits manager (PBM) margin profile will be similar to now and its growth algorithm will remain intact and be similar. At the same time, cash flow will decline by $600 million this year amid renegotiated client relationships and implementation of its rebate-free model.
Molina also reported Q4 2025 news. Molina reported a significant fourth quarter loss and issued disappointing 2026 guidance. This sent shares plummeting 33% as investors reacted to the company’s financial struggles. Molina said it would pull out of Medicare Advantage (MA) mainstream plans in 2027, which generates about $1 billion in revenue but is underperforming. It will focus on MA Special Needs Plans (SNPs).
In other news, Cost Plus Drugs co-founder Mark Cuban is not convinced the FTC settlement will amount to much.
Additional articles: https://www.modernhealthcare.com/insurance/mh-cigna-evernorth-pbm-express-scripts-rebates/ and https://www.healthcaredive.com/news/cigna-q4-2025-express-scripts-ftc-settlement-impact/811438/ and https://www.beckerspayer.com/legal/meh-mark-cuban-casts-doubt-on-ftc-cignas-express-scripts-settlement/ and https://www.beckerspayer.com/financial/cigna-posts-6-billion-profit-in-2025/ and https://finance.yahoo.com/news/molina-healthcare-shares-plunge-33-220641206.html
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#healthplans #margins #pbms #cigna
https://www.modernhealthcare.com/insurance/mh-cigna-earnings-drug-rebates-david-cordani
CMS Issues Enrollment Report
The Centers for Medicare and Medicaid Services (CMS) has released its latest enrollment snapshot. Among the findings in the dense report:
— Medicaid and Children’s Insurance enrollment has dropped from 79.4M in October 2024 to 76.8 in October 2025.
Enrollment in Medicaid, Children’s Insurance, the Exchanges, and other Affordable Care Act (ACA) coverage has dropped from 110.7M in March 2023 to 101.2M in October 2025
#medicaid #schip #exchanges #cms
https://www.medicaid.gov/resources-for-states/downloads/eligib-oper-and-enrol-snap-oct2025.pdf
Trump To Rescind Healthcare Funding
The Trump administration is rescinding a total of $1.5 billion in health and transportation funds from multiple blue states, the White House Office of Management and Budget (OMB) confirmed.
#trump #healthcare
— Marc S. Ryan
