President Donald Trump announced on Thursday a drug pricing deal with Regeneron Pharmaceuticals, marking the conclusion of negotiations with all 17 major pharmaceutical firms initially targeted by the White House last year. According to multiple reports, the agreement involves price reductions for all current and future Regeneron drugs on Medicaid, as well as selling a cholesterol drug called Praluent for $225 on the TrumpRx website.
Key Takeaways
President Trump announced a drug-pricing deal with Regeneron to lower costs for Medicaid patients and offer a cholesterol drug at $225 on TrumpRx. As part of the deal, Regeneron will invest $27 billion in U.S. research and development and provide a new gene therapy for free.
- Trump finalizes last of 17 drug pricing deals with major pharmaceutical companies
- Deal includes price reductions for Medicaid patients and a discounted cholesterol drug on TrumpRx
- Regeneron commits to investing $27 billion in U.S. research and development
- FDA approves Otarmeni, a gene therapy for rare hearing loss, under expedited program
- Details of the deals remain private despite congressional pressure
The deal is part of the Trump administration's signature drug pricing initiative, aiming to bring U.S. pharmaceutical prices in line with those in other developed nations through so-called most-favored-nation deals. As part of this new agreement, Regeneron has committed to spending $27 billion on research, development, and manufacturing in the United States.
Additionally, Regeneron announced that Otarmeni, its new gene therapy for a rare form of congenital hearing loss, had been approved by the Food and Drug Administration (FDA) under the agency's expedited Commissioner's National Priority Voucher program. The therapy will be made available at no charge to clinically eligible individuals in the U.S.
The FDA approval process has faced scrutiny from Democrats in Congress for months, as it has not been authorized by Congress. House and Senate lawmakers have noted that FDA vouchers have repeatedly gone to companies agreeing to pricing concessions sought by the White House.
Even as Trump and his Department of Health and Human Services have touted these drug-pricing deals as transformative, the details of the agreements have not been made public. Pressed by members of Congress to share the contracts this week, Health Secretary Robert F. Kennedy Jr. said his team would share whatever details it could that didn't include proprietary information or trade secrets.
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