The Trump administration finalized the Global Benchmark for Efficient Drug Pricing (GLOBE) model, a mandatory Medicare payment program intended to lower prices for drugs administered in doctors’ offices. The model requires drug companies to offer rebates when prices exceed rates in certain overseas markets, but exemptions—including separate most-favored-nation pricing agreements with the White House—leave only three companies covered. The Centers for Medicare and Medicaid Services estimates GLOBE will save $440 million over seven years, down 96 percent from the nearly $12 billion projected in the proposed version. The final model applies to drugs accounting for more than $100 million in annual traditional Medicare Part B spending, initially targeting less than 1 percent of eligible Part B drug spending. President Trump has made lower drug prices a central part of his affordability agenda, while CMS Administrator Mehmet Oz said the administration aims to lower costs while preserving medical innovation. Trump has also signed pricing agreements with more than two dozen drugmakers, including Pfizer, Eli Lilly and Novo Nordisk; the White House Council of Economic Advisers has estimated that the broader effort could save state governments $27.6 billion and the federal government $36.6 billion over the next decade.