Pharmaceutical Market Europe • November 2025 • 8
NEWS
Merck and Blackstone agree on funding for cancer protein antibody
Merck (known as MSD outside the US and Canada) has agreed to support Blackstone Life Sciences with the clinical development of its investigational antibody-drug conjugate (ADC), sacituzumab tirumotecan (sac-TMT).
Merck is currently conducting several phase 3 clinical trials evaluating the efficacy of sac-TMT in six tumour types, including breast, endometrial and lung cancers. Sac-TMT is designed to target trophoblast cell-surface antigen 2 (TROP2), a protein commonly expressed on the surface of various cancer cells.
Under the terms of the agreement, Blackstone will provide Merck with $700m to fund part of the costs associated with ongoing clinical research. In return, Blackstone will be eligible to receive low-to-mid single-digit royalties on future net sales of sac-TMT across all approved indications and Merck’s global marketing territories.
The agreement is contingent on regulatory approval from the US FDA for the first-line treatment of triple-negative breast cancer, based on results from the TROFUSE-011 clinical trial.
Lilly agrees to lower costs for US patients
Eli Lilly has agreed to reduce costs and improve access to its medicines for US patients, including its obesity portfolio.
From April 2026, patients enrolled in Medicare will pay no more than US$50 per month for Zepbound (tirzepatide), available as a multi-dose pen, and orforglipron, available as a once-daily pill – contingent on both products receiving approval from the US FDA. Where applicable, the medicines will also be made available through Medicaid.
Following FDA approval, the products will additionally be offered through LillyDirect, the company’s self-pay direct-to-patient platform. A multi-dose formulation of Zepbound will be priced at US$299, rising to US$449 for higher-dose regimens – a level that Lilly said reflects price parity with European markets.
Other medicines – including Emgality, Trulicity and Mounjaro – will also be added to LillyDirect, with discounts of 50-60% off current list prices.
The agreement builds on a previous collaboration between Lilly and the US government that involved a pilot programme capping out-of-pocket insulin payments at $35 per month. That cap will remain in place under the new arrangement.
As part of the new agreement, Lilly will receive a three-year exemption from recently introduced pharmaceutical tariffs and will not be subject to future federal pricing mandates during that period.
Novo Nordisk agrees to lower certain US drug prices
Novo Nordisk has reached an agreement with the US government aimed at broadening patient access and improving affordability of its semaglutide-based medication through lower pricing initiatives.
Starting in 2026, the Denmark-headquartered healthcare company will make its semaglutide products – including Wegovy and Ozempic – available under the US Medicare Part D and Medicaid programmes. The lower prices will be introduced through a pilot scheme expected to encompass the majority of Part D beneficiaries.
In addition, Novo Nordisk will offer the medicines through a direct-to-patient (DtP) cash channel, further expanding access to individuals outside insurance frameworks.
As part of the agreement, the company will receive a three-year exemption from tariffs on pharmaceutical ingredients and medicines introduced earlier this year by the US government. Novo Nordisk anticipates a direct, low single-digit negative impact on global sales growth in 2026, coinciding with the roll-out of the affordability and access initiatives.
Novo Nordisk is the latest big pharma company to agree to lower drug prices in the US, with AstraZeneca and Pfizer having also agreed to lower drug prices in recent months.