US Drugmakers Delay and Withdraw New Medicines from European Markets Over Trump Pricing Policy

Pharmaceutical companies are delaying or cancelling the launch of new medicines across European markets to protect their profit margins in the United States, following the introduction of the Most Favored Nation (MFN) drug pricing policy by the Trump administration. The policy, launched in May 2025, ties US drug prices to the lowest prices paid in other wealthy nations, creating a direct financial incentive for manufacturers to avoid low-priced European launches that could drag down their American revenues.

According to an analysis by GlobalData cited in a Reuters report at the end of March 2026, new drug launches in European Union markets fell by approximately 35 percent over the ten months following the implementation of the MFN framework, compared with the previous ten-month period. The decline affects both large established manufacturers and smaller innovative biotech firms, with companies including Bayer, AstraZeneca, Roche, Novartis, Amgen, Indivior, Eli Lilly, and Merck reassessing their European commercial strategies.

A Bloomberg feature published on 23 April 2026 illustrated the human cost of this commercial realignment through the case of Frank Hennemann, a German patient living with bronchiectasis, a chronic lung condition that causes him to cough up to 400 times a day. Although Insmed received European Commission approval for Brinsupri (brensocatib) on 18 November 2025, the first authorised treatment for non-cystic fibrosis bronchiectasis in the European Union, patient access across member states has been delayed as the company navigates pricing negotiations under the new transatlantic environment.

Several high-profile product withdrawals have already occurred. California-based Amgen withdrew its PCSK9 inhibitor Repatha (evolocumab), used to lower cholesterol, from the Danish market. According to the Danish health policy publication Sundhedspolitisk Tidsskrift, the decision was linked to the low tender price negotiated in Denmark, a country included in the reference basket of the GENEROUS (GENErating cost Reductions fOr U.S. Medicaid) pricing model used by US authorities. Amgen officially cited prices and a changed environment without directly referencing MFN.

US-based Indivior announced the withdrawal of its anti-addiction medicines Subutex and Suboxone from five European countries: Sweden, Ireland, Italy, Finland, and the United Kingdom. The Swedish Medical Products Agency (MPA) set deadlines of 15 December 2025 for the discontinuation of Suboxone and 12 January 2026 for Subutex. Eva Pettersson, group manager at the Department of Medicine Availability at the Swedish MPA, confirmed the agency received no advance warning from the manufacturer. Jakob Forssmed, the Swedish Minister for Social Affairs, described the move as a typical shortage situation, raising public health concerns for patients undergoing opioid use disorder treatment.

Stefan Oelrich, head of the pharmaceuticals division at German giant Bayer, publicly stated in early April 2026 that the company was preparing for a new pricing system and holding talks with governments in Europe, Japan, and other wealthy nations to negotiate higher prices on new product launches. He warned that Europeans would have to pay more for medicines if the region was to remain an attractive market for innovative therapies, noting that linking US prices to European levels could force companies to choose between markets.

As of March 2026, sixteen major drugmakers had struck agreements with Washington to cut prices in the US market in exchange for three years of tariff relief. Bayer was not among these companies. The France health authority HAS has reported a sharp decline in early-access drug applications, suggesting that commercial hesitation is already translating into measurable changes in market behaviour. The European Federation of Pharmaceutical Industries and Associations (EFPIA) has repeatedly argued that access to innovative medicines in Europe remains uneven and delayed, and that the region risks falling further behind.

The European Commission reached political agreement on its pharmaceutical reform package in December 2025 and proposed the Critical Medicines Act in March 2025, both aimed at improving the availability, supply, and production of essential medicines across the bloc. However, policy experts note that these initiatives were designed before the full extent of the MFN disruption became clear and may not be sufficient to counteract the new commercial dynamics.

The United States remains the most lucrative pharmaceutical market globally, valued at approximately 700 billion dollars. With US prices now structurally linked to foreign benchmarks, manufacturers have a clear incentive to sequence launches differently, prioritising the American market and postponing or cancelling launches in lower-priced European countries until pricing exposure becomes clearer. Industry analysts warn that unless the regulatory framework is revised, European patients will continue to face longer delays in accessing breakthrough treatments for serious conditions including cancer, cardiovascular disease, and rare disorders.