Public disclosure of net prices could disrupt this system by reducing payer leverage, discouraging launches in lower-income countries, and homogenising pricing in competitive tenders, potentially reducing access in markets that depend on steep discounts to afford high-cost therapies. In Europe, the definition varies by country, with ongoing legal disputes in markets such as Spain over whether reimbursement prices should be publicly accessible. In the United States, recent executive orders have extended this to include prescription drug pricing. By aligning incentives and ensuring flexibility, stakeholders can move toward a model that fosters both innovation and accountability by building trust through smarter, more strategic transparency. Achieving meaningful price transparency in pharma will require more than blanket disclosure, it demands a collaborative approach that respects the realities of R&D investment, market diversity, and access goals. The result is a complex landscape where the goals of innovation, affordability, and accountability must be carefully balanced, requiring collaboration among stakeholders.

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