The discussion highlights how "most favored nation" policies have evolved from theoretical policy discussions into tangible business challenges. This shift significantly impacts the "pharmaceutical industry", particularly concerning global strategies and "regulatory compliance". The conversation also delves into the implications of these policies, including the introduction of "tariffs", on international business practices. Chapters 00:00 – The Moment MFN Became Real A senior pharma leader’s launch dilemma turns MFN from theory into a business-critical threat. 02:50 – What Is MFN, Really? (Explained Simply) Chris breaks down MFN in plain language—and why it is not global price harmonisation. 05:00 – Explaining MFN to a 12-Year-Old Simple analogies that cut through the policy complexity. 07:30 – What Problem Is MFN Trying to Solve? Is MFN about affordability, fairness, leverage—or something else entirely? 10:00 – Will MFN Actually Lower Patient Out-of-Pocket Costs? Separating political rhetoric from real patient impact. 12:15 – MFN vs Recent ‘MFN-Like’ Pharma Deals Why recent Pfizer, AstraZeneca, and EMD agreements are not true MFN—and why that matters. 15:15 – Does MFN Reduce Prices or Just Shift Who Pays? Who really benefits: patients, governments, or budgets? 18:15 – “Europe Becomes a Risk, Not a Launch Anchor” Why global launch sequencing is being fundamentally rethought. 20:30 – The Global Ripple Effect: Who Feels MFN First? Which countries are most exposed—and why affordability has limits. 23:45 – MFN and R&D: What Innovation Gets Funded Next? How MFN could quietly reshape drug development priorities. 27:00 – Launch Sequencing, Evidence Strategy & Uncertainty Why companies must plan multiple launch paths simultaneously. 29:30 – Will MFN Spill Into Commercial Pricing? How Medicare and Medicaid policies may reshape the entire US market. 32:00 – Value-Based Pricing in an MFN World Why MFN complicates outcomes-based and value-based contracts. 34:30 – Confidential Discounts Under Threat Could MFN break the global confidential contracting model? 37:15 – Why Value Means Different Things in Different Countries How HTA frameworks, PICO, and comparators collide under price referencing. 40:00 – Could the World Move Toward Standardised Drug Pricing? The iPhone analogy—and why drugs are different. 42:40 – Extreme but Plausible MFN Scenarios (US Perspective) What “MFN-light” vs “MFN-heavy” futures could look like. 45:00 – Extreme but Plausible MFN Scenarios (Global Perspective) Where affordability breaks—and access risks emerge. 47:30 – The One Thing CEOs Should Do Now Scenario planning, signposts, and future-proofing launch strategy. 50:30 – Final Takeaways: MFN Is Not a Policy to Watch—It’s a Shift to Prepare For Why waiting is the biggest risk of all.