Pharmaceutical pricing and reimbursement has never been more consequential or more contested. The Inflation Reduction Act’s drug price negotiation program represents the most significant structural change to U.S. pharmaceutical pricing in the industry’s history. The first ten drugs selected for negotiation include Jardiance, Farxiga, Eliquis, Enbrel, Imbruvica, Januvia, Entresto, Stelara, Xarelto, and Fiasp. The European Joint Clinical Assessment regulation — effective January 2025 — introduces mandatory EU-wide health technology assessment for new medicines. The intersection of U.S. IRA negotiations, European JCA reform, and China’s NRDL price reduction process is creating the most challenging global pricing environment in pharmaceutical history.
Topics Covered
• IRA Drug Price Negotiation
• European HTA — Joint Clinical Assessment
• Reference Pricing and International Price Linkage
• China NRDL Negotiation
• Market Access Strategy
• Launch Sequencing
Table of Contents
1. Executive Summary
2. Market Overview
3. IRA Drug Price Negotiation
4. European HTA — Joint Clinical Assessment
5. Reference Pricing and International Price Linkage
6. China NRDL Negotiation
7. Market Access Strategy
8. Launch Sequencing
9. Regional Market Analysis
10. Strategic Conclusions and Recommendations
11. Appendix
List of Tables
Table 1. Market Overview 2025
Table 2-8. Topic-Specific Analysis Tables
Table 2. Leading Companies — Portfolio and Strategy Assessment 2025
Table 3. M&A and Partnership Activity 2023-2025
Table 4. Regional Analysis
Table 5. Key Risks and Mitigation Strategies
Companies Profiled
Pfizer
Merck
Bristol-Myers Squibb
AbbVie
Johnson & Johnson
Express Scripts
CVS Caremark
OptumRx
Humana Pharmacy
