Insights | Meridian Research Group | Page 16

Mergers & Acquisitions

Union Pacific/Norfolk Southern: STB Considerations

The companies filed a notice of intent regarding their proposed merger with the Surface Transportation Board (STB) on July 30, 2025. This filing initiates a timeline for the companies to submit a merger application in 3-6 months. The companies stated that they intend to file their application on or before January 29, 2026.

Russian Oil Tariffs/Sanctions

President Trump imposed a 50% tariff on India related to its purchases of Russian energy products. He has said in recent weeks that he would use tariffs and sanctions to coerce Russia to negotiate an end to its war against Ukraine. Unnamed White House officials have reportedly signaled that tariffs on other countries are expected to be imposed...

Despite President Trump’s request for a 40% reduction in NIH funding for FY26, Congressional appropriators are preliminarily moving in the direction of keeping NIH funding flat to modestly positive next fiscal year.

340B Drug Discount Program

The Health Resources and Services Administration (HRSA) has begun accepting applications for a voluntary 340B Rebate Model Pilot Program that will allow drug manufacturers to provide 340B-discounted drug prices using a rebate mechanism. The pilot is set to begin January 1, 2026 and last at least one year. In practice, such rebate models have the...

The Center for Medicare & Medicaid Innovation (CMMI) is in the process of developing a demonstration program which would test allowing Medicare Part D plans and state Medicaid program to cover GLP-1 products for weight loss purposes. Reports suggest the demonstration could begin as soon as Q2 next year for state Medicaid programs (~2027 for...

Drug Pricing/Most-Favored Nation

The Trump administration is escalating its efforts to compel drugmakers to offer most-favored nation (MFN) prices to American consumers (i.e., prices equivalent to those offered in the markets of countries comparable to the U.S. economically/developmentally). In recent days, the White House issued letters to more than a dozen drugmakers demanding...