
2025 marked a turning point in how uncertainty is experienced across healthcare systems, in particular in the wake of the latest developments in US policy. What was once managed market by market is increasingly shaped by decisions made elsewhere, earlier, and with broader downstream consequences. Our 2025 Drug Contracting Annual Trends Report examines why uncertainty is no longer local or sequential, but systemic, and what this shift means for leaders responsible for pricing, access, and reimbursement.


What's Inside
This report looks beyond individual policies to explore how policy convergence is reshaping execution risk across markets. Drawing on developments such as MFN, joint clinical assessments, and evolving international reference pricing, it highlights how assumptions now propagate faster and flexibility narrows earlier.
KEY THEMES INCLUDE:
Uncertainty Becomes Systemic
Understand why risk no longer stays contained within individual markets, and how decisions increasingly scale across systems.
Execution Risk Shifts Earlier
See where risk is now building, when it materializes, and why reversing course has become harder once decisions align.
What This Means for Planning
Learn why execution readiness, governance, and coordination over time are becoming defining capabilities in pricing and access teams.
WHY IT MATTERS
The MFN Executive Order and related pricing and reimbursement policies are redefining how countries evaluate value and set reimbursement benchmarks. This report helps you understand emerging trends, prepare for future policy shifts, and adapt with clarity, agility and confidence.
Policy Convergence and Spillovers
Explore how MFN, JCAs, and global pricing dynamics are coupling markets that once moved more independently.



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