A wave of transformative US drug-pricing agreements and record manufacturing investments from leading biopharmaceutical companies is poised to reshape the global landscape for pharmaceutical access, production, and industrial policy, according to GlobalData, a leading data and analytics company.
In November 2025, the Trump administration advanced its Most-Favored-Nation (MFN) pricing program through landmark agreements with Eli Lilly and Novo Nordisk that sharply reduce the cost of GLP-1 diabetes and obesity medicines while tying the companies to extensive US manufacturing expansion. Through the federal TrumpRx platform, the administration secured steep MFN-based discounts on Ozempic and Wegovy, cutting monthly prices to $350, and set launch prices for Lilly’s Zepbound and orforglipron at $346 per month. The reforms will also allow Medicare and Medicaid to cover anti-obesity medicines for the first time.
Edita Hamzic, Healthcare Analyst at GlobalData, comments: “These agreements illustrate a new model in which pricing, access, and domestic industrial capacity are negotiated in tandem. The US is positioning itself as the anchor market for next-generation metabolic therapies.”
To sustain these long-term discounts and strengthen supply chain security, Lilly has committed at least $27 billion in new US manufacturing sites while Novo Nordisk has pledged an additional $10 billion to expand and localize its US production footprint, including end-to-end manufacturing of a potential Wegovy tablet. A separate MFN agreement with EMD Serono will reduce the cost of IVF medicines by 42–79% in exchange for expanded US manufacturing and research investment.
GlobalData’s Bio/Pharmaceutical Outsourcing Report finds that these developments represent a pivotal transition toward a model where innovation, affordability, and supply chain resilience are integrated drivers of global pharmaceutical strategy.
At the same time, global manufacturing investment continues to accelerate. Eli Lilly unveiled a EUR2.6 billion ($3.0 billion) investment in a new advanced manufacturing facility in the Netherlands that will support oral solid medicines across cardiometabolic, neuroscience, oncology, and immunology therapeutic areas, and serve as a key node for orforglipron once approved.
Eóin Ryan, Manager for Health Economics and Market Access at GlobalData, adds: “Lilly’s investment in the Netherlands demonstrates Europe’s continued competitiveness in advanced pharmaceutical manufacturing. Despite strong US policy pressure to reshore production, the EU continues to attract large-scale projects, reflecting the importance of stable regulatory environments and established science clusters in global site-selection decisions.”
Meanwhile, Bachem reached a major milestone with its Bubendorf facility inspection and plans up to $250 million in additional US expansions, while Cambrex announced a $120 million investment to expand peptide API capacity in Iowa.
The Bio/Pharmaceutical Outsourcing Report is a monthly analysis of news and trends affecting pharmaceutical contract manufacturing organizations. The report lists the latest contract manufacturing agreements, opportunities and threats for CDMOs, M&A and financing of CDMOs, and emerging regulatory news.
