Several legal developments related to pharmaceutical pricing in 2026 have had the industry scrambling to understand and calculate the impacts. From the implementation of a negotiated “maximum fair price” for selected top selling products to efforts toward “most favored nation” pricing for all to a push to direct-to-consumer offerings to varied state laws to the uncertainty of federal action related to the 340B program and regulating pharmacy benefit managers, industry stakeholders expected 2026 to be a tumultuous year. In this presentation, we outline the legal underpinnings of these dynamics and check in on impacts and what to expect going forward.