摩根大通：中国医疗保健行业-关于特朗普美国药品定价改革提案对中国制药行业潜在影响的初步思考

J P M O R G A N Asia Pacific Equity Research 12 May 2025 China Healthcare Quick thoughts on the potential impact of Trump's US drug pricing change proposal on the China drug industry According to news articles, President Trump is expected to sign an executive order to reduce US drug prices by 30-80%, following a "most favored nation" pricing model. As this was reported a few days ago, please refer to our US pharma analysts Chris Schott's and Lisa Gill's previous notes on drug pricing for more context. We've ...