The Trump administration's effort to align US Medicare drug prices with those in other wealthy nations is prompting pharmaceutical companies to raise prices or withdraw from markets abroad, according to a new study. Researchers from Brigham and Women's Hospital found that for roughly 75% of 195 patented medicines analyzed — representing $87.9 billion in Medicare spending in 2024 — companies would lose more revenue in the US by lowering Medicare prices than they earn in the cheaper reference countries used as benchmarks. Published in The Lancet, the study warns that drugmakers may increase prices in certain countries or exit markets entirely.

Astellas Pharma Inc. reportedly secured a higher price for a new eye medicine in Japan amid concerns over Trump's pricing policy, while Biogen Inc. CEO Chris Viehbacher said the company plans to launch its postpartum depression drug Zurzuvae in only a few European markets. Roche Holding AG has indicated it may not introduce an unapproved breast cancer pill in Switzerland. The analysis estimates that matching Medicare prices to international benchmarks could save $11.6 billion across two pilot programs, but that figure drops to $3.3 billion if 17 companies with separate White House pricing deals receive exemptions.