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Real Chemistry
Value Report
March 6, 2026
Spanning the Globe: MAHA, MFN Takes a European Vacation

The two major mantras of U.S. health policy under President Trump are beginning to impact the continent of Europe with consequences for patients and drugmakers.

Recently, the burgeoning Make America Healthy Again movement officially crossed the Atlantic Ocean with the establishment of a European counterpart. Dubbed “MEHA,” the independent organization is made up of “anti-vaccine activists, right-wing politicians and medical freedom campaigners” that will lobby European government on a myriad of health priorities.

However, a different acronym is of acute interest to drugmakers already navigating tariffs and regulatory change: MFN. The specter of most favored nation drug pricing in the U.S. has sparked a “period of uncertainty” across Europe, with manufacturers and national health systems in a standoff on raising list prices and/or reimbursement rates. Experts warn that MFN-related disclosures have unintended consequences for nations in Eastern Europe.

Global patients are already seeing very real consequences even while U.S. rulemaking remains in progress. American drugmaker Insmed announced it is pausing launch plans for Brinsupri, a treatment for non-cystic fibrosis bronchiectasis, in Europe and Japan as it seeks “more clarity” on U.S. drug pricing policy.

The Trump administration also continues to turn the screws on UK health officials. Financial Times shared details of a recent meeting between U.S. diplomats and the chief executive of NICE in which U.S. Ambassador Warren Stephens asked for changes to Britain’s drug pricing policies he deemed as “anti-growth.”

Andrew Wishon, Senior Manager

Lilly and Walgreens Open New Doors to Obesity Drugs

Eli Lilly is trying to make it easier for workers to get obesity treatment by launching a new employer-focused website. The platform, Lilly Employer Connect, helps companies connect with third-party groups that can offer obesity-care programs, pharmacy access and other support for employees outside of their traditional insurance benefit.

Through the program, Lilly’s Zepbound KwikPen will be available to network pharmacies at a discounted price of $449 across all doses. In the company’s press release, Kevin Hern, senior vice president of Lilly Employer, said: “By enabling coverage outside traditional benefit designs, we lower barriers to treatment and give employers greater control over how they support employee access to obesity care.”

Walgreens is testing a different access strategy, targeting consumers willing to pay out of pocket. The retailer introduced a virtual weight management clinic through its digital health platform, offering online visits with licensed clinicians for $49 and no monthly subscription fee. Available in 28 states, the service provides eligible patients with access to GLP-1s, ongoing telehealth support and lower out-of-pocket costs through Walgreens’ Rx Savings Finder tool.

Taken together, both launches underscore the growing number of pathways patients can use to access obesity care outside of traditional insurance coverage.

Access could expand even further if Lilly secures FDA approval for its oral GLP-1, which the company anticipates will come early in Q2. An oral option could remove another barrier for patients reluctant to use injectable treatments.

Megan Hickey, Senior Group Director

Data Fuels Calls for 340B Program Transparency

A new report from the Minnesota Department of Health found that covered entities in the state earned a collective net 340B revenue of at least $1.34 billion in 2024 – more than twice the net revenue reported in 2023.

The report found Minnesota’s largest 340B hospitals generated the lion’s share (80%) of all statewide net 340B revenue, totaling $1 billion. In contrast, safety-net clinics, such as Federally Qualified Health Centers and tribal health centers, generated the least revenue last year.

The figures indicate 340B savings are likely not flowing to under-resourced health facilities for at-risk populations, a departure from the original intent of the 340B program. Perhaps even more eye-popping than the statistics is the fact that Minnesota is the only state to publish any analysis of 340B data, underscoring the need for greater transparency and reporting for the program.

In the spirit of “necessary transparency for 340B program integrity,” Novo Nordisk issued a notice that beginning April 1, all 340B covered entities will be required to submit pharmacy and medical claims data for every 340B dispense as a condition for accessing the manufacturer discounts.

This could signal a broader industry trend, following in the footsteps of Eli Lilly’s similar reporting mandate from two months ago. The American Hospital Association immediately pushed back, petitioning federal regulators to block such drugmaker requirements on grounds of increased costs and reporting burdens for already strapped health systems.

While the 340B environment remains muddy, what’s clear is that increased data transparency will be essential to ensure the 340B program is serving those as intended.

Rachel Bridges, Senior Director

Circled on Our Calendar
  • March 9-12 – annual Global Health Conference & Exhibition, HIMSS
  • March 11 – virtual summit on value-based insurance design, University of Michigan V-BID Center
  • March 12 – meeting to discuss and recommend strains for 2026-27 flu vaccines, HHS/FDA
Quotes of the Week
  • “The destruction that Kennedy has wrought in 1 year might take generations to repair, and there is little hope for US health and science while he remains at the helm.” – Editorial Board, The Lancet
  • “Sunlight is a powerful disinfectant. That is precisely why the hospital lobby recoiled. If 340B savings are truly being used to expand care for low-income patients…then transparency should be welcomed.” – Steve Forbes, The Washington Times
  • “The [FDA’s] leaders might say the right things about liberating drug development from red tape. Yet their actions are making it much harder for innovative companies to take advantage of brilliant new biotechnology – even as China invests heavily to surpass America in the field.” – Editorial Board, The Washington Post
Other News
See you next week …
–  Real Chemistry
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