President Donald Trump has introduced a new initiative called “The Great Healthcare Plan,” urging Congress to implement measures aimed at reducing drug prices and insurance premiums. The plan also proposes expanding the Most Favored Nation (MFN) drug pricing model to include more pharmaceutical companies beyond the 17 that were targeted in the previous year.
During a press event in San Francisco, Paul Hudson, CEO of Sanofi and incoming board chair of PhRMA, expressed his willingness to collaborate with the administration on drug pricing policies that involve insurers. He stated, “I did say this to some of [Trump’s] advisors, when we were in the White House, that I prefer for them to deal with PhRMA, because there’s a large group of companies that don’t have a deal exactly, and what are they left with?”
The outline of Trump’s plan calls for Congress to formally adopt the MFN agreement. However, specific details regarding implementation were not disclosed. On insurance premiums, the proposal includes sending funds directly to Americans and requiring insurance providers to present rate and coverage information in accessible language.
In a statement accompanying the announcement, Trump said: “Instead of putting the needs of big corporations and special interests first our plan finally puts you first and puts more money in your pocket. The government is going to pay the money directly to you. It goes to you, and then you take the money and buy your own healthcare… the big insurance companies lose and the people of our country win.”
Hudson emphasized industry involvement in shaping future policy through organizations like PhRMA: “The things I’m interested in as incoming chair is trying to make sure that this round of MFN is the round, and that we’re vigilant enough to know that we we’ve all paid a price, and hopefully that will be the conclusion.”
In late 2025, several pharmaceutical firms began making individual agreements with the Trump administration—starting with Pfizer—to lower costs on selected therapies. Additionally, plans for TrumpRx, a direct-to-consumer prescription drug platform promising competitive prices, have been announced but are not yet operational.
It remains uncertain whether “The Great Healthcare Plan” will bring all remaining pharmaceutical companies under its terms or how it will fare in Congress.
