Pharma Pulse: Medicaid Deals, GLP-1 Pullback, McKesson's Buy

Welcome to Pharma Pulse, a Pharmaceutical Commerce podcast bringing you the latest insights shaping patient access, regulatory policy, and healthcare innovation. I'm your host, and let's get into today's headlines.

First up, another round of drug pricing deals could be on the way.

The Trump administration is preparing to announce a new set of drug pricing agreements with midsize biotech companies, Bloomberg News reported, citing people familiar with the matter.¹ The deals reportedly call on companies to discount outpatient drugs for state Medicaid programs so that prices align with what those companies charge in foreign markets. It isn't yet clear which manufacturers are involved, and the report has not been independently verified. The move would build on voluntary agreements already reached with 17 companies, including Pfizer, Eli Lilly, and Amgen, covering Medicaid and cash-pay pricing. The administration has credited the broader push, including GLP-1 price cuts tied to expanded Medicare obesity coverage, with an estimated $64.3 billion in projected federal and state savings over the next decade.

Next, employers are rethinking GLP-1 coverage as costs mount.

About 14% of U.S. employers have already dropped or plan to drop coverage for GLP-1 weight-loss drugs in 2027, according to a new survey from the Business Group on Health.² Healthcare costs are projected to rise 9.2% next year if employers make no changes, up from 8.5% in 2026, with two-thirds of respondents pointing to rising utilization. The share of employers covering GLP-1s for weight loss fell from 72% in 2025 to 60% this year, and most that still offer them say they haven't yet seen savings show up in related conditions like diabetes or sleep apnea. Cancer overtook other conditions as employers' top-cited cost driver, named by 70% of firms versus 58% a year earlier, adding pressure toward biosimilars and alternative pharmacy arrangements.

Lastly, McKesson is buying its way deeper into oncology.

McKesson signed a definitive agreement to acquire Precision Medicine Group for approximately $2.25 billion, folding the clinical research and commercialization services firm into its Oncology & Multispecialty segment. The deal adds biomarker intelligence, lab services, a global CRO, and market access consulting to McKesson's distribution network, positioning it as a full-service partner across the development lifecycle rather than just a downstream logistics provider. The move tracks a broader pattern of large healthcare and life sciences companies consolidating clinical, data, and commercialization capabilities under one roof, following Thermo Fisher Scientific's earlier acquisition of Clario Holdings. Closing remains subject to regulatory clearance, with no timeline disclosed.

That's it for this episode of Pharma Pulse. For more insights on trends transforming pharmaceutical access, visit pharmaceuticalcommerce.com. Thanks for listening, until next time, stay well and stay informed.

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References

1. Reuters. White House to announce new drug pricing deals with biotechs, Bloomberg News reports. Published August 26, 2026. https://www.reuters.com/world/white-house-announce-new-drug-pricing-deals-with-biotechs-bloomberg-news-reports-2026-08-26/
2. Niasse, A. More US employers to drop weight-loss drugs in 2027, as healthcare costs increase. Reuters. Published August 25, 2026. https://www.reuters.com/legal/litigation/more-us-employers-drop-weight-loss-drugs-2027-healthcare-costs-increase-2026-08-25/