Trump touts drug pricing pact with Regeneron aimed at lowering costs
The White House announced a drug pricing deal on April 23 with Regeneron, the final holdout among large pharmaceutical companies to sign most favored nation pricing deals with the Trump administration.
Regeneron became the 17th large pharmaceutical company to sign a drug pricing agreement after receiving letters from President Donald Trump in July.
During an Oval Office announcement Thursday with Health and Human Services officials and Regeneron executives, Trump touted the deal as the latest example of his administration's efforts to lower drug prices for Americans.
Trump said the 17 drug companies that have agreed to most favored nation pricing deals represent 80% of brand-name drugs marketed in the U.S.
"This will result in the largest drop in prescription drug prices in the history of the United States of America," Trump said.
As part of the deal, Regeneron will cut the price of its cholesterol-lowering drug Praluent to $225, down from $537. It will be sold on TrumpRx.gov, the federal government's new drug-pricing portal for cash-paying customers.
Regeneron also gained Food and Drug Administration approval on April 23 for its gene therapy, Otarmeni, which will be prescribed to treat a rare type of hearing loss that afflicts about 50 newborns in the United States each year.
Regeneron will initially provide the gene therapy at no cost to eligible patients in the United States, Trump and company officials said. Consumers might pay for some costs under their insurance plan for charges billed by medical providers to administer Otarmeni.
"It's hard to beat free," said Dr. Mehmet Oz, administrator of the Centers for Medicare & Medicaid Services, said of the starting price for the gene therapy.
Trump has made most favored nation deals a centerpiece of his administration's effort to lower drug prices for consumers.
The administration previously announced deals with 16 of 17 major drug manufacturers that it sent letters to in 2025 seeking price concessions on brand-name drugs.
While touting these deals as a boon for consumers during oval office announcements, the Trump administration hasn't publicly released terms of the voluntary agreements. The administration's drug-pricing website, TrumpRx, listed prices of more than five dozen brand-name fertility, insulin, weight loss and other medications as of this month. The website directs cash-paying consumers to drug manufacturers websites or coupons that can be used at pharmacies. The site does not process insurance claims.
During the announcement, Oz said 10 million Americans have used the drug-pricing portal website since it launched earlier this year.
Other consumer websites such as GoodRx and entrepreneur Mark Cuban’s Cost Plus Drugs offer discounted prescription drugs to consumers. The government's drug price websites only lists brand-name drugs, not generics, which are typically less expensive than brand-name drugs.
The Trump administration announced plans to assess 100% tariffs on imported brand-name drugs as part of a sweeping April 2 order.
Drugmakers that agree to move some drug production to the United States and agree to most favored nation pricing deals would pay no tariffs under the order. If drug companies only move production to the U.S., they would pay a 20% tariff.