Trump’s Drug Pricing Deals: Three-Year Terms Revealed in SEC Filings

WASHINGTON — President Trump’s “most-favored nation” (MFN) deals with pharmaceutical companies, touted as a way to lower prescription drug costs for Americans, have a defined duration of three years, according to Securities and Exchange Commission (SEC) filings. While the Trump administration announced the agreements beginning in September 2020, specific details, including the length of the commitments, were largely undisclosed.

Details of the Agreements

Sixteen major drug companies entered into agreements with the Trump administration aimed at securing lower drug prices for U.S. Consumers and encouraging other countries to pay more. However, an analysis by 46brooklyn, a drug price research firm, revealed that despite these deals, all 16 companies raised list prices on some of their drugs in January 2026 [1].

The agreements vary between each company, but share common goals of reducing costs. SEC filings have now clarified that, for at least some of the companies involved, these deals are set to last for three years [2].

SEC and Regulatory Changes

The current SEC, under a Republican-led commission, is focused on rolling back many of the Biden administration’s regulatory and enforcement initiatives. This shift began with an executive order issued by President Trump on January 20, 2025, titled “Regulatory Freeze Pending Review,” which paused ongoing and recently finalized regulations for 60 days [1].

Impact on Drug Prices

Despite the agreements, price increases have continued. The price hikes in early 2026 included medications for conditions such as cancer, heart failure, and Type 2 diabetes, as well as some COVID-19 vaccines [1]. Antonio Ciaccia, CEO of 46brooklyn, noted that January is a typical time for brand-name drug price changes, and the current situation aligns with trends from previous years [1].

Looking Ahead

The long-term impact of the MFN deals remains to be seen. With the three-year timeframe now established through SEC filings, continued monitoring of drug prices will be crucial to assess the effectiveness of these agreements in delivering lower costs to American consumers.