Pfizer CEO Albert Bourla said the most-favored-nation drug pricing agreements are signed and will remain in place through the end of the current administration's term.

I think the agreements are signed and are going until the end of the term of this government,

Bourla expects a split government after the elections to limit legislative change and does not anticipate any changes to MFN drug pricing agreements.

But I think that in any case, looks like we will have a split government So I do not think that many things can move legislation wise. I do not expect any changes in MFN. I think the agreements are signed and are going until the end. Of the term of this government.

Bourla says the industry has moved from fear over tariffs and MFN in 2025 to a stable policy environment that should last.

it is a very big contrast vis a vis what I was telling you a year ago in 2025, I was really scared. About the implications that either tariffs or MFN could have. I think through the successful navigation, of those issues, we brought the stability that it is now projected to last.

Bourla likens the obesity drug commercial model to the Viagra launch, with out-of-pocket payment and e-commerce driving much larger international markets.

People are willing to pay out of pocket for products that they value irrelevant if they are reimbursed or not. That creates dramatically different size in the international markets. The second was that because of the consumer nature of these launch, the ecommerce and the Internet as it happened with Viagra.

Bourla says AI is changing pharma promotion, especially at the patient level.

And to add another dimension, AI is changing the way that promotions are happening right now. And not only at the physician's level, actually, even more importantly at the patient's level.